Natixis Advisors LLC Has $41.62 Million Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Natixis Advisors LLC cut its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 1.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 470,480 shares of the company’s stock after selling 6,788 shares during the quarter. Natixis Advisors LLC’s holdings in Construction Partners were worth $41,619,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in 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 during the period. Allspring Global Investments Holdings LLC lifted its stake in Construction Partners by 197.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after buying an additional 408,610 shares during the period. Raymond James Financial Inc. acquired a new position in Construction Partners in the fourth quarter valued at approximately $42,527,000. Charles Schwab Investment Management Inc. lifted its stake in Construction Partners by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock valued at $40,957,000 after buying an additional 9,788 shares during the period. Finally, Fred Alger Management LLC acquired a new position in Construction Partners in the third quarter valued at approximately $16,535,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the sale, the chief accounting officer now owns 17,394 shares in the company, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 16.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ROAD shares. Raymond James lowered their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 16th. Robert W. Baird upped 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 reaffirmed a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.40.

Construction Partners Price Performance

Shares of NASDAQ:ROAD opened at $71.58 on Monday. The stock’s 50 day moving average is $79.66 and its 200-day moving average is $81.19. Construction Partners, Inc. has a twelve month low of $49.16 and a twelve month high of $103.69. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 66.90, a PEG ratio of 0.99 and a beta of 0.79. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46.

Construction Partners 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.