Envestnet Portfolio Solutions Inc. Sells 884 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Envestnet Portfolio Solutions Inc. cut its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,554 shares of the company’s stock after selling 884 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Construction Partners were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROAD. Byrne Asset Management LLC grew its holdings in Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock valued at $47,000 after buying an additional 133 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock worth $114,000 after buying an additional 160 shares in the last quarter. USA Financial Formulas bought a new position in shares of Construction Partners in the fourth quarter valued at approximately $31,000. HighTower Advisors LLC grew its stake in Construction Partners by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company’s stock valued at $2,612,000 after acquiring an additional 350 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in Construction Partners during the 4th quarter worth approximately $33,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Stock Performance

NASDAQ ROAD opened at $80.60 on Wednesday. Construction Partners, Inc. has a 52-week low of $49.16 and a 52-week high of $103.69. The company has a fifty day moving average of $77.83 and a 200-day moving average of $81.90. The company has a market capitalization of $4.50 billion, a P/E ratio of 75.33, 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.

Analysts Set New Price Targets

Several research analysts have commented on the stock. DA Davidson reissued a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Raymond James dropped their price objective 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 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. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.