Premier Fund Managers Ltd Invests $668,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Premier Fund Managers Ltd purchased a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 7,473 shares of the company’s stock, valued at approximately $668,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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. State Street Corp lifted its holdings in shares of Construction Partners by 2.7% in the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after acquiring an additional 26,189 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position 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 worth $54,104,000 after acquiring an additional 408,610 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Construction Partners during the fourth quarter worth approximately $42,527,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Construction Partners by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock worth $40,957,000 after purchasing an additional 9,788 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Down 5.8 %

Shares of ROAD opened at $71.93 on Friday. The firm has a market capitalization of $4.02 billion, a P/E ratio of 67.22, a P/E/G ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-month high of $103.69. The firm has a fifty day moving average price of $77.15 and a 200-day moving average price of $81.79. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ROAD shares. DA Davidson restated a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird lifted their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Raymond James reduced their price objective 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. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Company 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.