Connor Clark & Lunn Investment Management Ltd. Acquires 4,822 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 33.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,086 shares of the company’s stock after acquiring an additional 4,822 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Construction Partners were worth $1,688,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ROAD. Raymond James Financial Inc. acquired a new stake in Construction Partners in the 4th quarter worth $42,527,000. Allspring Global Investments Holdings LLC increased its stake in Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after acquiring an additional 408,610 shares during the period. Fred Alger Management LLC acquired a new position in Construction Partners in the 3rd quarter valued at approximately $16,535,000. Artemis Investment Management LLP bought a new stake in shares of Construction Partners in the 4th quarter worth approximately $18,893,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Construction Partners during the 3rd quarter worth approximately $10,377,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Todd Keith Andrews sold 5,489 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the sale, the chief accounting officer now directly owns 17,394 shares in the company, valued at $1,597,464.96. This represents a 23.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ROAD shares. Robert W. Baird upped their target price on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. DA Davidson restated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Raymond James decreased their target price on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 16th. Three equities 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. According to MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.40.

Construction Partners Stock Up 4.9 %

Shares of NASDAQ ROAD opened at $75.94 on Thursday. Construction Partners, Inc. has a 52-week low of $49.16 and a 52-week high of $103.69. 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 business has a fifty day moving average of $78.64 and a two-hundred day moving average of $81.26. The stock has a market cap of $4.24 billion, a PE ratio of 70.97, a PEG ratio of 0.99 and a beta of 0.79.

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.