QRG Capital Management Inc. Acquires Shares of 2,484 Construction Partners, Inc. (NASDAQ:ROAD)

QRG Capital Management Inc. acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,484 shares of the company’s stock, valued at approximately $220,000.

Other large investors have also added to or reduced their stakes in the company. Sheets Smith Wealth Management purchased a new position in Construction Partners during the fourth quarter valued at $632,000. Segall Bryant & Hamill LLC purchased a new position in Construction Partners during the third quarter valued at $10,377,000. Intech Investment Management LLC purchased a new position in Construction Partners during the third quarter valued at $778,000. Artemis Investment Management LLP purchased a new position in Construction Partners during the fourth quarter valued at $18,893,000. Finally, Washington University purchased a new position in Construction Partners during the fourth quarter valued at $3,452,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Buying and Selling

In other Construction Partners news, Director Suntx Capital Ii Management Co sold 12,731 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the completion of the sale, the director now owns 17,000 shares of the company’s stock, valued at approximately $1,696,260. The trade was a 42.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Todd Keith Andrews sold 2,511 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the sale, the chief accounting officer now directly owns 19,339 shares of the company’s stock, valued at $1,853,836.54. This represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock valued at $4,173,032 over the last 90 days. Company insiders own 16.36% of the company’s stock.

Construction Partners Stock Performance

Shares of ROAD opened at $69.41 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. Construction Partners, Inc. has a one year low of $49.16 and a one year high of $103.69. The firm has a market capitalization of $3.88 billion, a P/E ratio of 64.87, a PEG ratio of 0.99 and a beta of 0.79. The business has a fifty day moving average of $82.06 and a 200 day moving average of $80.68.

Analyst Ratings Changes

Several research analysts have recently weighed in on ROAD shares. Raymond James decreased their price target 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. DA Davidson restated a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Robert W. Baird boosted their price target on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.