Construction Partners, Inc. (NASDAQ:ROAD) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 702,823 shares of the company’s stock after acquiring an additional 15,340 shares during the period. Clearbridge Investments LLC owned 1.26% of Construction Partners worth $62,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROAD. Arrowstreet Capital Limited Partnership grew its stake in shares of Construction Partners by 123.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,604 shares of the company’s stock valued at $673,000 after purchasing an additional 4,207 shares during the last quarter. Premier Fund Managers Ltd acquired a new stake in shares of Construction Partners during the fourth quarter worth $668,000. Pictet Asset Management Holding SA grew its position in Construction Partners by 21.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,094 shares of the company’s stock valued at $539,000 after buying an additional 1,063 shares during the last quarter. EFG Asset Management North America Corp. increased its stake in Construction Partners by 48.1% in the 4th quarter. EFG Asset Management North America Corp. now owns 68,090 shares of the company’s stock valued at $6,026,000 after buying an additional 22,107 shares during the period. Finally, Sheets Smith Investment Management purchased a new position in Construction Partners during the 4th quarter worth $1,478,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

Shares of ROAD opened at $71.87 on Tuesday. 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 52-week low of $49.16 and a 52-week high of $103.69. The company has a 50-day simple moving average of $76.40 and a 200-day simple moving average of $82.25. The company has a market capitalization of $4.02 billion, a PE ratio of 67.17, a P/E/G ratio of 0.99 and a beta of 0.79.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. Raymond James reduced their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. Finally, Robert W. Baird boosted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th.

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.