Nicolet Advisory Services LLC Cuts Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Nicolet Advisory Services LLC cut its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,747 shares of the company’s stock after selling 344 shares during the period. Nicolet Advisory Services LLC’s holdings in Construction Partners were worth $239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Construction Partners by 42.8% during the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company’s stock worth $308,935,000 after buying an additional 1,046,617 shares in the last quarter. Geode Capital Management LLC grew its holdings in Construction Partners by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company’s stock worth $93,617,000 after acquiring an additional 30,362 shares in the last quarter. State Street Corp raised its holdings in shares of Construction Partners by 2.7% in the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after purchasing an additional 26,189 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Construction Partners by 2.2% during the 4th quarter. Clearbridge Investments LLC now owns 702,823 shares of the company’s stock worth $62,172,000 after purchasing an additional 15,340 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock worth $54,104,000 after purchasing an additional 408,610 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on ROAD shares. Robert W. Baird raised their price target on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Raymond James decreased their target price 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. Finally, DA Davidson reiterated a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th.

Construction Partners Stock Down 3.6 %

Construction Partners stock opened at $68.75 on Friday. The stock has a 50-day simple moving average of $75.14 and a 200-day simple moving average of $82.20. The company has a market capitalization of $3.84 billion, a P/E ratio of 64.25, a PEG ratio of 0.99 and a beta of 0.85. 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.

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.