Corient Private Wealth LLC Sells 200 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Corient Private Wealth LLC cut its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,521 shares of the company’s stock after selling 200 shares during the period. Corient Private Wealth LLC’s holdings in Construction Partners were worth $2,435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROAD. State Street Corp grew its holdings in shares of Construction Partners by 2.7% during the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after purchasing an additional 26,189 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 buying an additional 408,610 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Construction Partners during the 4th quarter worth about $42,527,000. Charles Schwab Investment Management Inc. increased its position in Construction Partners by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock valued at $40,957,000 after acquiring an additional 9,788 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new stake in Construction Partners in the 3rd quarter valued at about $16,535,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Down 3.1 %

NASDAQ:ROAD opened at $73.83 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-month high of $103.69. The stock’s fifty day simple moving average is $78.09 and its 200-day simple moving average is $81.59. The firm has a market capitalization of $4.13 billion, a P/E ratio of 69.00, a P/E/G ratio of 0.99 and a beta of 0.79.

Analyst Ratings Changes

ROAD has been the topic of several research analyst reports. 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. Raymond James lowered their target price on 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, Robert W. Baird upped their price target on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Three research 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 stock. Based on data from MarketBeat.com, Construction Partners has a consensus rating of “Moderate Buy” and an average target price of $85.40.

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.