Construction Partners, Inc. (NASDAQ:ROAD) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,604 shares of the company’s stock after purchasing an additional 496 shares during the period. Rhumbline Advisers owned about 0.11% of Construction Partners worth $5,273,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ROAD. USA Financial Formulas bought a new position in Construction Partners in the fourth quarter worth about $31,000. Mather Group LLC. bought a new position in shares of Construction Partners in the fourth quarter valued at $33,000. Byrne Asset Management LLC lifted its position in shares of 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 acquiring an additional 133 shares during the last quarter. 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 purchasing an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Construction Partners in the 4th quarter valued at approximately $50,000. Institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ROAD has been the subject of a number of research analyst reports. DA Davidson reissued a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Raymond James decreased their price target 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 boosted their price target 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. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.40.

Insider Buying and Selling at Construction Partners

In related news, Director Charles E. Owens sold 46,596 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total transaction of $4,721,572.68. Following the completion of the transaction, the director now owns 203,404 shares in the company, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Keith Andrews sold 5,489 shares of Construction Partners stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the transaction, the chief accounting officer now owns 17,394 shares in the company, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,225 shares of company stock worth $13,904,358. Company insiders own 16.36% of the company’s stock.

Construction Partners Trading Down 2.3 %

Shares of ROAD opened at $71.34 on Friday. The stock’s fifty day simple moving average is $84.25 and its 200-day simple moving average is $80.40. 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 firm has a market capitalization of $3.99 billion, a PE ratio of 66.67, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74. Construction Partners, Inc. has a 12-month low of $46.26 and a 12-month high of $103.69.

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.