Construction Partners, Inc. (NASDAQ:ROAD) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 463,000 shares of the company’s stock after purchasing an additional 9,788 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Construction Partners were worth $40,957,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sheets Smith Wealth Management acquired a new position in shares of Construction Partners in the 4th quarter valued at $632,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Construction Partners during the 3rd quarter worth about $10,377,000. Intech Investment Management LLC purchased a new stake in Construction Partners in the 3rd quarter valued at about $778,000. Artemis Investment Management LLP acquired a new position in Construction Partners in the fourth quarter valued at about $18,893,000. Finally, Washington University purchased a new position in Construction Partners during the fourth quarter worth about $3,452,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Up 3.8 %

Shares of NASDAQ:ROAD opened at $71.58 on Friday. The firm has a market capitalization of $4.00 billion, a PE ratio of 66.90, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 1 year low of $49.16 and a 1 year high of $103.69. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The firm’s 50-day moving average is $79.66 and its two-hundred day moving average is $81.07.

Insider Activity at Construction Partners

In other news, CAO Todd Keith Andrews sold 5,489 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the sale, the chief accounting officer now directly owns 17,394 shares in the company, valued at approximately $1,597,464.96. This trade represents a 23.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.36% of the company’s stock.

Analyst Upgrades and Downgrades

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