Envestnet Portfolio Solutions Inc. Sells 884 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Envestnet Portfolio Solutions Inc. trimmed its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 13.7% in the fourth quarter, HoldingsChannel reports. The fund owned 5,554 shares of the company’s stock after selling 884 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Construction Partners were worth $491,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ROAD. Byrne Asset Management LLC raised its position in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after purchasing an additional 133 shares during the period. Allworth Financial LP increased its holdings in shares of Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock worth $114,000 after buying an additional 160 shares during the period. USA Financial Formulas bought a new stake in shares of Construction Partners in the 4th quarter valued at about $31,000. HighTower Advisors LLC boosted its holdings in 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 acquiring an additional 350 shares during the period. Finally, Mather Group LLC. bought a new position in Construction Partners during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

ROAD opened at $80.60 on Wednesday. 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 stock has a market capitalization of $4.50 billion, a PE ratio of 75.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The stock’s 50 day moving average price is $77.83 and its 200-day moving average price is $81.90. Construction Partners, Inc. has a 52-week low of $49.16 and a 52-week high of $103.69.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ROAD shares. Raymond James lowered their price objective on 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. DA Davidson reiterated a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Finally, Robert W. Baird raised their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.40.

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.