PNC Financial Services Group Inc. Buys 1,088 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

PNC Financial Services Group Inc. lifted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 39.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,826 shares of the company’s stock after buying an additional 1,088 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Construction Partners were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ROAD. USA Financial Formulas bought a new stake in Construction Partners during the 4th quarter valued at approximately $31,000. Mather Group LLC. bought a new stake in Construction Partners during the 4th quarter valued at approximately $33,000. Byrne Asset Management LLC raised its stake in Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock valued at $47,000 after purchasing an additional 133 shares during the period. Nisa Investment Advisors LLC increased its stake in Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after acquiring an additional 433 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Construction Partners in the 4th quarter worth approximately $50,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

ROAD opened at $73.83 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average of $78.09 and a 200 day moving average of $81.28. The stock has a market cap of $4.13 billion, a P/E ratio of 69.00, a PEG ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 52-week low of $49.16 and a 52-week high of $103.69.

Analysts Set New Price Targets

A number of analysts have issued reports on ROAD shares. Robert W. Baird lifted their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. DA Davidson restated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Finally, Raymond James dropped their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

Construction Partners Company 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.