Kayne Anderson Rudnick Investment Management LLC Reduces Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Kayne Anderson Rudnick Investment Management LLC decreased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,579,271 shares of the company's stock after selling 41,878 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.62% of Construction Partners worth $228,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ROAD. USA Financial Formulas bought a new position in Construction Partners in the fourth quarter worth about $31,000. Mather Group LLC. acquired a new position in shares of Construction Partners in the 4th quarter valued at $33,000. Byrne Asset Management LLC raised its holdings in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after purchasing an additional 133 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after purchasing an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Construction Partners in the fourth quarter valued at approximately $50,000. 94.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented 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 on the stock in a research report on Thursday, January 16th. Robert W. Baird increased their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Finally, DA Davidson reissued a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th.

Insiders Place Their Bets

In other Construction Partners news, CEO Fred Julius Smith III acquired 9,333 shares of the stock in a transaction dated Monday, April 14th. The stock was acquired at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was 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 trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. 16.36% of the stock is currently owned by company insiders.

Construction Partners Stock Performance

Shares of Construction Partners stock traded down $1.06 on Friday, reaching $80.10. 115,200 shares of the stock were exchanged, compared to its average volume of 436,397. 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 1-year low of $49.86 and a 1-year high of $103.69. The firm has a market capitalization of $4.48 billion, a PE ratio of 74.77, a PEG ratio of 0.99 and a beta of 0.85. The business has a fifty day moving average price of $73.91 and a two-hundred day moving average price of $82.83.

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.