American Century Companies Inc. Cuts Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

American Century Companies Inc. decreased its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 862,628 shares of the company’s stock after selling 11,834 shares during the period. American Century Companies Inc. owned about 1.54% of Construction Partners worth $76,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ROAD. Intech Investment Management LLC purchased a new stake in shares of Construction Partners during the 3rd quarter worth $778,000. Charles Schwab Investment Management Inc. raised its holdings in Construction Partners by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company’s stock worth $31,634,000 after purchasing an additional 4,009 shares in the last quarter. Nicolet Advisory Services LLC purchased a new stake in shares of Construction Partners during the third quarter valued at about $208,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Construction Partners in the 3rd quarter valued at about $453,000. Finally, Hardy Reed LLC bought a new position in shares of Construction Partners during the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Up 7.4 %

NASDAQ:ROAD opened at $79.31 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The firm has a fifty day simple moving average of $77.96 and a 200-day simple moving average of $81.74. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69. The company has a market capitalization of $4.43 billion, a P/E ratio of 74.12, a PEG ratio of 0.99 and a beta of 0.79.

Wall Street Analyst Weigh In

Several research firms have issued reports on ROAD. Raymond James cut their price target on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 16th. DA Davidson restated a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Robert W. Baird increased 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 investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners 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.