Construction Partners, Inc. (NASDAQ:ROAD) Shares Bought by Huntington National Bank

Huntington National Bank grew its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 34.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,432 shares of the company’s stock after buying an additional 628 shares during the quarter. Huntington National Bank’s holdings in Construction Partners were worth $215,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Construction Partners by 42.8% in the fourth 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. Raymond James Financial Inc. acquired a new position in shares of Construction Partners during the 4th quarter worth $42,527,000. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 purchasing an additional 408,610 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Construction Partners by 6,332.5% in the fourth quarter. Franklin Resources Inc. now owns 235,880 shares of the company’s stock valued at $20,866,000 after purchasing an additional 232,213 shares during the period. Finally, Artemis Investment Management LLP purchased a new stake in Construction Partners during the fourth quarter worth about $18,893,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Down 3.6 %

Shares of NASDAQ ROAD opened at $68.75 on Friday. The firm’s 50-day moving average is $75.14 and its two-hundred day moving average is $82.28. The company has a market capitalization of $3.84 billion, a PE ratio of 64.25, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. 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.

Analysts Set New Price Targets

ROAD has been the subject of a number of research analyst reports. Raymond James dropped their target price on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. Robert W. Baird lifted their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, DA Davidson reiterated a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th.

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.