Polen Capital Management LLC Sells 3,085 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Polen Capital Management LLC reduced its position in Construction Partners, Inc. (NASDAQ:ROAD) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,009 shares of the company’s stock after selling 3,085 shares during the period. Polen Capital Management LLC owned approximately 0.06% of Construction Partners worth $2,831,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Byrne Asset Management LLC increased its position in shares of 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 purchasing an additional 133 shares during the last quarter. Allworth Financial LP increased its position in shares of Construction Partners by 15.0% during the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock valued at $114,000 after purchasing an additional 160 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Construction Partners during the 4th quarter valued at $31,000. HighTower Advisors LLC increased its position in shares of Construction Partners by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company’s stock valued at $2,612,000 after purchasing an additional 350 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Construction Partners by 35.0% during the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ROAD. DA Davidson reaffirmed a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird lifted their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Raymond James decreased their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, one has assigned 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 a consensus target price of $85.40.

Construction Partners Stock Up 3.8 %

Shares of NASDAQ ROAD opened at $71.58 on Monday. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69. The business has a 50-day simple moving average of $79.66 and a two-hundred day simple moving average of $81.19. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The company has a market cap of $4.00 billion, a P/E ratio of 66.90, a P/E/G ratio of 0.99 and a beta of 0.79.

Insiders Place Their Bets

In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 17,394 shares in the company, valued at $1,597,464.96. This trade represents a 23.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.36% of the stock is owned by corporate insiders.

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.