Invesco Ltd. Acquires 642,987 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Invesco Ltd. boosted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 75.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,493,866 shares of the company's stock after acquiring an additional 642,987 shares during the quarter. Invesco Ltd. owned 2.67% of Construction Partners worth $132,147,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ROAD. Sheets Smith Wealth Management bought a new position in Construction Partners in the 4th quarter valued at $632,000. Artemis Investment Management LLP acquired a new position in Construction Partners during the 4th quarter worth about $18,893,000. Washington University bought a new stake in Construction Partners during the 4th quarter worth about $3,452,000. Sanctuary Advisors LLC acquired a new stake in Construction Partners in the 3rd quarter valued at about $288,000. Finally, State Street Corp raised its stake 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 worth $70,140,000 after acquiring an additional 26,189 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Transactions at Construction Partners

In other news, CEO Fred Julius Smith III bought 9,333 shares of the business's stock in a transaction on Monday, April 14th. The shares were bought at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the acquisition, the chief executive officer now owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the business's 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 completion of the transaction, the senior vice president now directly owns 159,389 shares of the company's stock, valued at $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 Trading Down 1.3 %

Shares of NASDAQ:ROAD traded down $1.02 during midday trading on Friday, hitting $77.45. The company had a trading volume of 632,114 shares, compared to its average volume of 438,993. The firm has a fifty day simple moving average of $74.09 and a 200 day simple moving average of $82.52. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 72.38, a PEG ratio of 0.99 and a beta of 0.85. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ROAD. Raymond James lowered their price target 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. DA Davidson reaffirmed a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Finally, 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 research report on Monday, February 10th.

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.