MML Investors Services LLC Trims Stake in Construction Partners, Inc. (NASDAQ:ROAD)

MML Investors Services LLC decreased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 40.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,231 shares of the company's stock after selling 13,332 shares during the period. MML Investors Services LLC's holdings in Construction Partners were worth $1,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock worth $308,935,000 after buying an additional 1,046,617 shares during the period. Invesco Ltd. boosted its stake in Construction Partners by 75.6% during the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after acquiring an additional 642,987 shares in the last quarter. FMR LLC grew its holdings in Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after purchasing an additional 565,583 shares during the period. Raymond James Financial Inc. bought a new position in shares of Construction Partners during the fourth quarter valued at approximately $42,527,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock valued at $54,104,000 after purchasing an additional 408,610 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Stock Performance

NASDAQ ROAD traded down $0.26 during trading hours on Monday, hitting $89.31. The company's stock had a trading volume of 54,679 shares, compared to its average volume of 437,204. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The company has a market cap of $4.99 billion, a P/E ratio of 83.28, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. The company's 50 day simple moving average is $74.95 and its two-hundred day simple moving average is $83.39. Construction Partners, Inc. has a 12 month low of $51.63 and a 12 month high of $103.69.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ROAD. DA Davidson reaffirmed a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird upped their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Raymond James cut their price objective on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th.

Insider Activity

In other Construction Partners news, 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 sale, the senior vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fred Julius Smith III purchased 9,333 shares of the stock in a transaction dated Monday, April 14th. The shares were purchased 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 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 disclosure for this purchase can be found here. 16.36% of the stock is owned by corporate insiders.

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.