Price T Rowe Associates Inc. MD Buys 3,943 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Price T Rowe Associates Inc. MD raised its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,089 shares of the company’s stock after buying an additional 3,943 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.06% of Construction Partners worth $3,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in Construction Partners by 109.5% during the 3rd quarter. Barclays PLC now owns 101,463 shares of the company’s stock worth $7,082,000 after acquiring an additional 53,026 shares during the last quarter. USA Financial Formulas acquired a new stake in Construction Partners in the fourth quarter worth $31,000. Artemis Investment Management LLP bought a new position in shares of Construction Partners during the fourth quarter worth $18,893,000. Perpetual Ltd grew its holdings in shares of Construction Partners by 47.0% in the 4th quarter. Perpetual Ltd now owns 9,277 shares of the company’s stock valued at $821,000 after buying an additional 2,967 shares during the period. Finally, Sheets Smith Wealth Management bought a new stake in shares of Construction Partners in the 4th quarter valued at $632,000. Institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

ROAD has been the topic of several recent analyst reports. DA Davidson reiterated a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. Raymond James cut their price objective on Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 29th. Finally, Robert W. Baird increased their target price on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th.

Construction Partners Stock Performance

ROAD opened at $89.35 on Tuesday. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 83.51, a P/E/G ratio of 0.99 and a beta of 0.87. The business’s 50-day moving average price is $75.28 and its two-hundred day moving average price is $83.49. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 year high of $103.69. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23.

Insider Buying and Selling

In other Construction Partners news, CEO Fred Julius Smith III bought 9,333 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the transaction, the chief executive officer now owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $73.83, for a total transaction of $442,980.00. Following the sale, the senior vice president now directly owns 159,389 shares in the company, valued at $11,767,689.87. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.36% of the stock is owned by corporate insiders.

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.