Connor Clark & Lunn Investment Management Ltd. Raises Position in Construction Partners, Inc. $ROAD

Connor Clark & Lunn Investment Management Ltd. lifted its position in Construction Partners, Inc. (NASDAQ:ROAD) by 114.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,328 shares of the company’s stock after buying an additional 16,687 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Construction Partners worth $3,330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ROAD. Manchester Capital Management LLC lifted its position in Construction Partners by 9.2% in the 1st quarter. Manchester Capital Management LLC now owns 1,461 shares of the company’s stock valued at $105,000 after acquiring an additional 123 shares in the last quarter. ANB Bank raised its stake in shares of Construction Partners by 4.2% in the first quarter. ANB Bank now owns 4,105 shares of the company’s stock worth $295,000 after purchasing an additional 164 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Construction Partners by 29.7% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $79,000 after purchasing an additional 170 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Construction Partners by 4.1% during the first quarter. Summit Investment Advisors Inc. now owns 4,676 shares of the company’s stock valued at $336,000 after buying an additional 184 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in Construction Partners by 2.3% in the 1st quarter. Stephens Inc. AR now owns 8,498 shares of the company’s stock worth $611,000 after buying an additional 187 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Up 0.7%

ROAD opened at $106.82 on Friday. The firm’s 50 day simple moving average is $120.81 and its two-hundred day simple moving average is $110.72. The company has a market capitalization of $5.99 billion, a PE ratio of 77.97, a PEG ratio of 0.94 and a beta of 1.02. Construction Partners, Inc. has a 1-year low of $64.79 and a 1-year high of $138.90. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63.

Analysts Set New Price Targets

Several research firms have issued reports on ROAD. Baird R W upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a report on Wednesday, October 8th. Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $135.00 price target (up from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.67.

About Construction Partners

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.