Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,555 shares of the company’s stock after selling 3,194 shares during the quarter. Advisors Asset Management Inc. owned about 0.13% of Construction Partners worth $6,418,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Cibc World Markets Corp acquired a new position in Construction Partners in the fourth quarter valued at about $355,000. Swiss National Bank lifted its position in Construction Partners by 0.6% in the fourth quarter. Swiss National Bank now owns 86,100 shares of the company’s stock valued at $7,616,000 after buying an additional 500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Construction Partners by 33.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,086 shares of the company’s stock valued at $1,688,000 after buying an additional 4,822 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Construction Partners by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company’s stock worth $2,612,000 after purchasing an additional 350 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Construction Partners by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,659 shares of the company’s stock worth $766,000 after purchasing an additional 625 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. DA Davidson reissued a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird increased their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Raymond James cut their target price on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of the 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 in the company, valued at $1,597,464.96. This represents a 23.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.36% of the stock is currently owned by insiders.

Construction Partners Stock Down 1.9 %

ROAD stock opened at $72.40 on Wednesday. The company’s 50 day moving average price is $78.93 and its 200 day moving average price is $81.30. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. Construction Partners, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $103.69. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 67.66, a PEG ratio of 0.99 and a beta of 0.79.

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.