Westover Capital Advisors LLC Reduces Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Westover Capital Advisors LLC trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,947 shares of the company’s stock after selling 249 shares during the quarter. Westover Capital Advisors LLC’s holdings in Construction Partners were worth $1,057,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROAD. Creative Planning boosted its stake in Construction Partners by 22.8% during the third quarter. Creative Planning now owns 7,060 shares of the company’s stock worth $493,000 after buying an additional 1,311 shares during the last quarter. US Bancorp DE boosted its stake in Construction Partners by 7.2% during the third quarter. US Bancorp DE now owns 10,260 shares of the company’s stock worth $716,000 after buying an additional 686 shares during the last quarter. HMS Capital Management LLC acquired a new position in Construction Partners during the third quarter worth $404,000. Principal Financial Group Inc. boosted its stake in Construction Partners by 4.1% during the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company’s stock worth $2,807,000 after buying an additional 1,596 shares during the last quarter. Finally, Lisanti Capital Growth LLC boosted its stake in Construction Partners by 54.4% during the third quarter. Lisanti Capital Growth LLC now owns 102,050 shares of the company’s stock worth $7,123,000 after buying an additional 35,955 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $69.34 on Tuesday. Construction Partners, Inc. has a 52 week low of $48.83 and a 52 week high of $103.69. The business’s fifty day simple moving average is $83.84 and its 200-day simple moving average is $80.76. The firm has a market cap of $3.87 billion, a PE ratio of 64.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46.

Analyst Upgrades and Downgrades

ROAD has been the topic of a number of recent research reports. Robert W. Baird boosted their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Raymond James decreased their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Insider Activity at Construction Partners

In related news, Director Charles E. Owens sold 49,695 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the sale, the director now owns 130,291 shares in the company, valued at approximately $13,134,635.71. The trade was a 27.61 % decrease in their position. The transaction was disclosed in a 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 on Friday, December 13th. The shares were sold at an average price of $94.41, for a total value of $566,460.00. Following the completion of the sale, the senior vice president now owns 154,856 shares in the company, valued at $14,619,954.96. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,225 shares of company stock worth $13,904,358. 16.36% of the stock is currently owned by company insiders.

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.