Voya Investment Management LLC Has $27.76 Million Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Voya Investment Management LLC reduced its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 35.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 313,800 shares of the company's stock after selling 173,287 shares during the quarter. Voya Investment Management LLC owned approximately 0.56% of Construction Partners worth $27,759,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sheets Smith Wealth Management acquired a new position in shares of Construction Partners in the fourth quarter valued at $632,000. Artemis Investment Management LLP bought a new stake in shares of Construction Partners during the 4th quarter worth about $18,893,000. Washington University acquired a new position in Construction Partners in the 4th quarter valued at about $3,452,000. Sanctuary Advisors LLC acquired a new position in Construction Partners in the 3rd quarter valued at about $288,000. Finally, Franklin Resources Inc. bought a new position in Construction Partners in the 3rd quarter valued at about $273,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Price Performance

NASDAQ:ROAD traded up $3.29 during trading hours on Friday, reaching $90.13. 326,773 shares of the company were exchanged, compared to its average volume of 438,113. The business has a 50 day moving average of $74.56 and a 200 day moving average of $83.17. Construction Partners, Inc. has a 1-year low of $50.42 and a 1-year high of $103.69. 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 capitalization of $5.04 billion, a P/E ratio of 83.85, a P/E/G ratio of 0.99 and a beta of 0.85.

Insider Activity

In related news, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $11,767,689.87. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fred Julius Smith III bought 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The stock was 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 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. Corporate insiders own 16.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. DA Davidson reaffirmed a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird upped their price objective on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, Raymond James dropped their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a report on Tuesday.

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.