Fmr LLC Raises Position in Construction Partners, Inc. (NASDAQ:ROAD)

FMR LLC lifted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 32.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,329,801 shares of the company's stock after purchasing an additional 565,583 shares during the period. FMR LLC owned about 4.17% of Construction Partners worth $206,094,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ROAD. Sheets Smith Wealth Management purchased a new stake in shares of Construction Partners during the fourth quarter valued at approximately $632,000. Artemis Investment Management LLP bought a new stake in Construction Partners during the 4th quarter valued at $18,893,000. Washington University purchased a new stake in Construction Partners during the 4th quarter valued at $3,452,000. Sanctuary Advisors LLC bought a new stake in Construction Partners in the 3rd quarter worth $288,000. Finally, State Street Corp increased its position 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 valued at $70,140,000 after acquiring an additional 26,189 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Stock Down 1.3 %

Shares of ROAD traded down $1.02 on Friday, reaching $77.45. The stock had a trading volume of 632,114 shares, compared to its average volume of 438,993. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 72.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. The company has a 50-day simple moving average of $74.09 and a 200-day simple moving average of $82.52. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-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.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ROAD. DA Davidson reissued a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. 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. Finally, Raymond James decreased their target price on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a report on Thursday, January 16th.

Insider Buying and Selling at Construction Partners

In related news, 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 value of $442,980.00. Following the sale, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. This represents a 3.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Fred Julius Smith III acquired 9,333 shares of the stock in a transaction on Monday, April 14th. The shares were bought at an average price of $73.83 per share, with a total value of $689,055.39. Following the purchase, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at $689,055.39. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 16.36% of the company's stock.

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.