Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lowered its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428,397 shares of the company's stock after selling 327,827 shares during the quarter. Wasatch Advisors LP owned approximately 2.56% of Construction Partners worth $126,356,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings 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 in the last quarter. FMR LLC raised its position in shares of Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock valued at $206,094,000 after purchasing an additional 565,583 shares during the period. Invesco Ltd. lifted its position in shares of Construction Partners by 75.6% during the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock valued at $132,147,000 after acquiring an additional 642,987 shares during the period. Geode Capital Management LLC boosted its position in Construction Partners by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock valued at $93,617,000 after buying an additional 30,362 shares in the last quarter. Finally, State Street Corp raised its position in shares of Construction Partners by 2.7% during the third quarter. State Street Corp now owns 1,004,867 shares of the company's stock worth $70,140,000 after acquiring an additional 26,189 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ROAD shares. 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 research report on Thursday, January 16th. 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 research report on Monday, February 10th. Finally, DA Davidson reissued a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th.

Construction Partners Stock Down 5.6 %

NASDAQ ROAD traded down $4.34 on Monday, reaching $73.11. 153,350 shares of the stock traded hands, compared to its average volume of 436,485. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 68.33, a PEG ratio of 0.99 and a beta of 0.85. The company has a fifty day moving average price of $74.01 and a 200-day moving average price of $82.79. Construction Partners, Inc. has a 12 month low of $49.45 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.

Insider Buying and Selling

In other news, CEO Fred Julius Smith III bought 9,333 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, with a total value of $689,055.39. Following the transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John L. Harper sold 6,000 shares of the firm'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 approximately $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 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.