Clearbridge Investments LLC Raises Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Clearbridge Investments LLC increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 702,823 shares of the company’s stock after purchasing an additional 15,340 shares during the period. Clearbridge Investments LLC’s holdings in Construction Partners were worth $62,172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Construction Partners by 42.8% during the fourth 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. Raymond James Financial Inc. acquired a new stake in shares of Construction Partners during the fourth quarter valued at $42,527,000. Allspring Global Investments Holdings LLC increased its position in Construction Partners by 197.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock worth $54,104,000 after purchasing an additional 408,610 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Construction Partners in the 4th quarter valued at about $18,893,000. Finally, Sei Investments Co. lifted its holdings in Construction Partners by 124.0% in the 4th quarter. Sei Investments Co. now owns 168,491 shares of the company’s stock valued at $14,905,000 after purchasing an additional 93,260 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. 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 report on Monday, February 10th. Raymond James lowered their target price on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 16th. Finally, DA Davidson reissued a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th.

Construction Partners Trading Up 0.8 %

Shares of ROAD stock opened at $71.87 on Tuesday. The firm’s 50-day simple moving average is $76.40 and its 200-day simple moving average is $82.25. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. Construction Partners, Inc. has a 1-year low of $49.16 and a 1-year high of $103.69. The firm has a market cap of $4.02 billion, a P/E ratio of 67.17, a PEG ratio of 0.99 and a beta of 0.79.

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.