Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 26.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,843 shares of the company’s stock after selling 8,992 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Construction Partners were worth $2,198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROAD. Raymond James Financial Inc. purchased a new position in shares of Construction Partners during the 4th quarter worth $42,527,000. Allspring Global Investments Holdings LLC raised its holdings in Construction Partners by 197.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after buying an additional 408,610 shares during the period. Fred Alger Management LLC purchased a new stake in Construction Partners in the 3rd quarter valued at about $16,535,000. Artemis Investment Management LLP acquired a new position in Construction Partners in the 4th quarter valued at about $18,893,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Construction Partners in the 3rd quarter valued at about $10,377,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Transactions at Construction Partners

In other news, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.36% of the company’s stock.

Construction Partners Price Performance

Construction Partners stock opened at $71.58 on Monday. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The business has a 50 day simple moving average of $79.66 and a 200-day simple moving average of $81.19. The stock has a market capitalization of $4.00 billion, a PE ratio of 66.90, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. DA Davidson reissued a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Raymond James lowered their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. Finally, Robert W. Baird boosted their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.40.

Construction Partners Company 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.