Russell Investments Group Ltd. Has $8.34 Million Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Russell Investments Group Ltd. trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,325 shares of the company's stock after selling 13,946 shares during the period. Russell Investments Group Ltd. owned approximately 0.17% of Construction Partners worth $8,344,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. USA Financial Formulas bought a new position in Construction Partners during the 4th quarter valued at $31,000. Mather Group LLC. acquired a new position in shares of Construction Partners in the fourth quarter worth about $33,000. Byrne Asset Management LLC raised its position in Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after buying an additional 133 shares during the period. Nisa Investment Advisors LLC boosted its position 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 during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Construction Partners in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Analyst Ratings Changes

ROAD has been the subject of several analyst reports. Robert W. Baird boosted their target price on Construction Partners from $100.00 to $102.00 and gave the stock 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 note on Thursday, January 30th. Finally, Raymond James lowered their target price 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 Price Performance

NASDAQ ROAD traded down $1.02 on Friday, hitting $77.45. 632,114 shares of the company were exchanged, compared to its average volume of 438,993. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The company has a market cap of $4.33 billion, a P/E ratio of 72.38, a P/E/G 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 firm has a 50 day moving average of $74.09 and a two-hundred day moving average of $82.52.

Insider Activity at Construction Partners

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

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.