Summitry LLC Decreases Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Summitry LLC lessened its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,131 shares of the company’s stock after selling 232 shares during the period. Summitry LLC’s holdings in Construction Partners were worth $454,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company’s stock valued at $308,935,000 after acquiring an additional 1,046,617 shares during the period. State Street Corp raised its position in shares of Construction Partners by 2.7% in the third 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 during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Construction Partners by 197.0% during 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 in the last quarter. Raymond James Financial Inc. bought a new position in Construction Partners in the 4th quarter worth approximately $42,527,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Construction Partners by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock valued at $40,957,000 after buying an additional 9,788 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

NASDAQ:ROAD opened at $80.60 on Wednesday. Construction Partners, Inc. has a 52-week low of $49.16 and a 52-week high of $103.69. The stock has a fifty day moving average of $77.83 and a 200 day moving average of $81.90. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 75.33, a P/E/G ratio of 0.99 and a beta of 0.79.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ROAD shares. Raymond James cut their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. DA Davidson restated a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Robert W. Baird upped their price target on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.40.

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.