Connor Clark & Lunn Investment Management Ltd. Has $1.69 Million Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Connor Clark & Lunn Investment Management Ltd. raised its position in Construction Partners, Inc. (NASDAQ:ROAD) by 33.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 19,086 shares of the company’s stock after buying an additional 4,822 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Construction Partners were worth $1,688,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in Construction Partners by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company’s stock worth $2,612,000 after acquiring an additional 350 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Construction Partners by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,659 shares of the company’s stock worth $766,000 after purchasing an additional 625 shares during the period. AlphaQuest LLC bought a new stake in Construction Partners in the fourth quarter valued at about $138,000. Intellectus Partners LLC acquired a new position in Construction Partners in the fourth quarter valued at about $239,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Construction Partners by 39.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,826 shares of the company’s stock worth $338,000 after buying an additional 1,088 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ROAD. Raymond James cut their price target on shares of 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. DA Davidson reiterated a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. Finally, Robert W. Baird boosted their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Three investment 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.40.

Construction Partners Stock Performance

Shares of ROAD opened at $75.94 on Thursday. The firm has a market cap of $4.24 billion, a P/E ratio of 70.97, a PEG ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a twelve month low of $49.16 and a twelve 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. The firm’s 50 day moving average price is $78.64 and its two-hundred day moving average price is $81.26.

Insider Buying and Selling

In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of Construction Partners stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the sale, the chief accounting officer now owns 17,394 shares of the company’s stock, valued at $1,597,464.96. This trade represents a 23.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 16.36% of the stock is currently owned by company 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.