Canada Pension Plan Investment Board Invests $425,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Canada Pension Plan Investment Board bought a new position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,800 shares of the company's stock, valued at approximately $425,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock worth $308,935,000 after acquiring an additional 1,046,617 shares during the period. FMR LLC boosted its position in shares of Construction Partners by 32.1% during the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after buying an additional 565,583 shares during the period. Invesco Ltd. grew its holdings in Construction Partners by 75.6% in the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after buying an additional 642,987 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $93,617,000 after acquiring an additional 30,362 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Construction Partners by 2.2% in the fourth 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 in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Price Performance

Shares of NASDAQ:ROAD traded up $0.97 on Wednesday, reaching $82.14. 317,460 shares of the company traded hands, compared to its average volume of 438,232. 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 stock has a market capitalization of $4.59 billion, a PE ratio of 76.77, a P/E/G ratio of 0.99 and a beta of 0.85. The company's 50 day moving average is $74.22 and its 200-day moving average is $83.09. Construction Partners, Inc. has a fifty-two week low of $50.42 and a fifty-two week high of $103.69.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. DA Davidson reiterated a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Raymond James cut their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday.

Insiders Place Their Bets

In other Construction Partners news, CEO Fred Julius Smith III acquired 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the transaction, the chief executive officer now owns 9,333 shares of the company's stock, valued at $689,055.39. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the transaction, the senior vice president now directly owns 159,389 shares in the company, valued at approximately $11,767,689.87. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.36% of the company's stock.

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.