Geode Capital Management LLC Purchases 30,362 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Geode Capital Management LLC lifted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,058,054 shares of the company's stock after acquiring an additional 30,362 shares during the period. Geode Capital Management LLC owned approximately 1.89% of Construction Partners worth $93,617,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ROAD. Sheets Smith Wealth Management acquired a new position in shares of Construction Partners in the 4th quarter worth approximately $632,000. Artemis Investment Management LLP bought a new position in Construction Partners in the 4th quarter valued at $18,893,000. Washington University acquired a new position in Construction Partners in the fourth quarter worth $3,452,000. Sanctuary Advisors LLC acquired a new stake in shares of Construction Partners in the third quarter valued at $288,000. Finally, State Street Corp increased 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 valued at $70,140,000 after buying an additional 26,189 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, CEO Fred Julius Smith III bought 9,333 shares of Construction Partners stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average price 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 of the company's stock, valued at $689,055.39. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners 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 sale, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 16.36% of the company's stock.

Construction Partners Stock Down 1.6 %

Shares of ROAD stock traded down $1.25 during trading hours on Wednesday, hitting $78.71. 209,265 shares of the company were exchanged, compared to its average volume of 435,107. The company has a market capitalization of $4.40 billion, a PE ratio of 73.01, 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 52 week low of $49.16 and a 52 week high of $103.69. The business has a 50 day moving average of $74.34 and a two-hundred day moving average of $82.49.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ROAD. Robert W. Baird raised 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 set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Raymond James reduced their price objective 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.

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.