Advisors Asset Management Inc. Reduces Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Advisors Asset Management Inc. reduced its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,555 shares of the company’s stock after selling 3,194 shares during the period. Advisors Asset Management Inc.’s holdings in Construction Partners were worth $6,418,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ROAD. USA Financial Formulas purchased a new position in shares of Construction Partners during the fourth quarter worth approximately $31,000. Mather Group LLC. purchased a new position in shares of Construction Partners during the fourth quarter worth approximately $33,000. Byrne Asset Management LLC grew its position in shares of Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after acquiring an additional 133 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of 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 last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Construction Partners during the fourth quarter worth approximately $50,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the completion of the sale, the chief accounting officer now owns 17,394 shares of the company’s stock, valued at approximately $1,597,464.96. This trade represents a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.36% of the company’s stock.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $72.40 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The stock has a fifty day moving average price of $78.93 and a 200 day moving average price of $81.30. Construction Partners, Inc. has a 1-year low of $49.16 and a 1-year high of $103.69. The company has a market cap of $4.05 billion, a PE ratio of 67.66, a P/E/G ratio of 0.99 and a beta of 0.79.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Raymond James lowered their target price 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. Robert W. Baird increased their price target on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Three 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

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.