Charles Schwab Investment Management Inc. Grows Position in Construction Partners, Inc. (NASDAQ:ROAD)

Charles Schwab Investment Management Inc. grew its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,000 shares of the company’s stock after purchasing an additional 9,788 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.83% of Construction Partners worth $40,957,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Construction Partners by 197.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after buying an additional 408,610 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Construction Partners in the 3rd quarter valued at about $16,535,000. Artemis Investment Management LLP acquired a new position in Construction Partners in the 4th quarter worth about $18,893,000. Segall Bryant & Hamill LLC purchased a new position in Construction Partners during the third quarter worth approximately $10,377,000. Finally, Peregrine Capital Management LLC acquired a new stake in Construction Partners in the fourth quarter valued at approximately $8,172,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Construction Partners

In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $91.84, for a total value of $504,109.76. Following the transaction, the chief accounting officer now directly owns 17,394 shares of the company’s stock, valued at $1,597,464.96. This trade represents a 23.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 16.36% of the company’s stock.

Construction Partners Stock Up 3.8 %

NASDAQ ROAD opened at $71.58 on Friday. The business has a fifty day moving average price of $79.66 and a 200 day moving average price of $81.07. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The company has a market cap of $4.00 billion, a P/E ratio of 66.90, a P/E/G ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a one year low of $49.16 and a one year high of $103.69.

Analysts Set New Price Targets

ROAD has been the subject of several research analyst reports. Raymond James reduced their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 16th. Robert W. Baird increased their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, DA Davidson reissued a “neutral” rating and set a $95.00 target price 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Construction Partners currently has an average rating of “Moderate Buy” and a consensus price target of $85.40.

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.