Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 239,574 shares of the company’s stock after selling 40,023 shares during the quarter. Royce & Associates LP owned approximately 0.43% of Construction Partners worth $21,193,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ROAD. USA Financial Formulas acquired a new position in shares of Construction Partners in the fourth quarter worth about $31,000. Mather Group LLC. acquired a new position in shares of Construction Partners in the fourth quarter worth about $33,000. Byrne Asset Management LLC lifted its stake in shares of Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after acquiring an additional 133 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Construction Partners by 400.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after acquiring an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Construction Partners in the fourth quarter worth about $50,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ROAD shares. Robert W. Baird upped their price objective on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Raymond James cut their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. Finally, DA Davidson restated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Insider Activity

In other news, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the transaction, the chief accounting officer now directly owns 17,394 shares of the company’s stock, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.36% of the company’s stock.

Construction Partners Stock Up 3.8 %

NASDAQ:ROAD opened at $71.58 on Monday. The firm has a market capitalization of $4.00 billion, a PE ratio of 66.90, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The stock has a 50 day moving average of $79.66 and a 200-day moving average of $81.19. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Construction Partners Profile

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.