Construction Partners, Inc. (NASDAQ:ROAD) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 29,531 shares of the company’s stock after purchasing an additional 350 shares during the quarter. HighTower Advisors LLC’s holdings in Construction Partners were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Construction Partners by 4.1% in the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company’s stock worth $2,807,000 after acquiring an additional 1,596 shares during the period. KBC Group NV increased its stake in shares of Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after acquiring an additional 367 shares during the period. Pathstone Holdings LLC increased its stake in shares of Construction Partners by 8.0% in the third quarter. Pathstone Holdings LLC now owns 61,717 shares of the company’s stock worth $4,308,000 after acquiring an additional 4,587 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Construction Partners in the third quarter worth $10,377,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Construction Partners by 3.6% in the third quarter. Advisors Asset Management Inc. now owns 75,749 shares of the company’s stock worth $5,287,000 after acquiring an additional 2,647 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Raymond James cut 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 note on Thursday, January 16th. Robert W. Baird increased their price objective 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, DA Davidson restated a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Construction Partners Stock Down 3.1 %

ROAD stock opened at $73.83 on Friday. The firm has a market cap of $4.13 billion, a PE ratio of 69.00, a P/E/G ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The firm’s fifty day moving average is $78.09 and its 200 day moving average is $81.28. Construction Partners, Inc. has a one year low of $49.16 and a one year high of $103.69.

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.