Corebridge Financial Inc. Has $1.89 Million Position in Construction Partners, Inc. (NASDAQ:ROAD)

Corebridge Financial Inc. cut its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,345 shares of the company’s stock after selling 1,612 shares during the quarter. Corebridge Financial Inc.’s holdings in Construction Partners were worth $1,888,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Construction Partners by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company’s stock valued at $31,634,000 after purchasing an additional 4,009 shares during the period. Walleye Capital LLC bought a new position in Construction Partners in the 3rd quarter valued at about $228,000. Benjamin Edwards Inc. grew its stake in shares of Construction Partners by 8.7% in the third quarter. Benjamin Edwards Inc. now owns 7,419 shares of the company’s stock valued at $518,000 after acquiring an additional 594 shares in the last quarter. Stifel Financial Corp increased its stake in Construction Partners by 3.4% during the 3rd quarter. Stifel Financial Corp now owns 108,132 shares of the company’s stock worth $7,548,000 after acquiring an additional 3,513 shares during the period. Finally, State Street Corp lifted its stake in Construction Partners by 2.7% during the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after purchasing an additional 26,189 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Up 4.3 %

Shares of NASDAQ ROAD opened at $76.40 on Thursday. The firm has a fifty day simple moving average of $75.68 and a two-hundred day simple moving average of $82.27. The firm has a market capitalization of $4.27 billion, a PE ratio of 71.40, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. 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, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69.

Wall Street Analysts Forecast Growth

ROAD has been the subject of several analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Raymond James cut their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 16th. Finally, Robert W. Baird upped their price target on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, February 10th.

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.