Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 862,628 shares of the company’s stock after selling 11,834 shares during the period. American Century Companies Inc.’s holdings in Construction Partners were worth $76,308,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. USA Financial Formulas acquired a new position in Construction Partners during the fourth quarter valued at $31,000. Mather Group LLC. acquired a new position in shares of Construction Partners in the 4th quarter valued at about $33,000. Byrne Asset Management LLC boosted its stake in shares of Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after buying an additional 133 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after acquiring an additional 433 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Construction Partners during the fourth quarter valued at approximately $50,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Trading Up 7.4 %

Shares of NASDAQ:ROAD opened at $79.31 on Tuesday. The business’s 50 day moving average price is $77.96 and its 200-day moving average price is $81.74. Construction Partners, Inc. has a 1 year low of $49.16 and a 1 year high of $103.69. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 74.12, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ROAD shares. DA Davidson restated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird raised their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Raymond James cut their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus target price of $85.40.

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.