First Trust Advisors LP Buys 260,148 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

First Trust Advisors LP raised its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 44.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 839,873 shares of the company's stock after purchasing an additional 260,148 shares during the quarter. First Trust Advisors LP owned 1.50% of Construction Partners worth $74,295,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ROAD. Vanguard Group Inc. raised its stake in Construction Partners by 42.8% during the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after purchasing an additional 1,046,617 shares during the period. Invesco Ltd. raised its stake in Construction Partners by 75.6% during the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock valued at $132,147,000 after purchasing an additional 642,987 shares during the period. FMR LLC raised its stake in Construction Partners by 32.1% during the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock valued at $206,094,000 after purchasing an additional 565,583 shares during the period. Raymond James Financial Inc. acquired a new stake in Construction Partners during the 4th quarter valued at $42,527,000. Finally, Allspring Global Investments Holdings LLC raised its stake in 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 purchasing an additional 408,610 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Down 1.7 %

Shares of NASDAQ ROAD traded down $1.35 during mid-day trading on Friday, reaching $79.81. The company had a trading volume of 294,379 shares, compared to its average volume of 438,724. Construction Partners, Inc. has a twelve month low of $50.42 and a twelve month high of $103.69. 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 stock has a market capitalization of $4.46 billion, a PE ratio of 74.59, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. The stock's 50 day moving average is $73.93 and its 200-day moving average is $83.06.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Raymond James dropped their price target on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a research note on Thursday, January 16th. Finally, DA Davidson reaffirmed 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 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.