LPL Financial LLC Has $3.45 Million Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

LPL Financial LLC increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 42.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,006 shares of the company's stock after buying an additional 11,625 shares during the quarter. LPL Financial LLC owned about 0.07% of Construction Partners worth $3,450,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ROAD. USA Financial Formulas bought a new position in Construction Partners in the fourth quarter valued at approximately $31,000. Mather Group LLC. bought a new position in shares of Construction Partners in the 4th quarter valued at $33,000. Byrne Asset Management LLC raised its holdings in shares of Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after buying an additional 133 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Construction Partners by 400.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after buying an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Construction Partners during the 4th quarter worth $50,000. Institutional investors own 94.83% of the company's stock.

Construction Partners Trading Down 1.1 %

NASDAQ ROAD traded down $0.87 on Thursday, hitting $77.60. The company's stock had a trading volume of 88,754 shares, compared to its average volume of 580,354. The company's 50-day moving average is $74.17 and its 200 day moving average is $82.46. The firm has a market cap of $4.34 billion, a PE ratio of 72.51, a PEG ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a 1-year low of $49.16 and a 1-year high of $103.69. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ROAD shares. Robert W. Baird lifted their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th. DA Davidson reiterated a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Raymond James reduced their price objective on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a research report on Thursday, January 16th.

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.