Canada Pension Plan Investment Board Acquires Shares of 4,800 Construction Partners, Inc. (NASDAQ:ROAD)

Canada Pension Plan Investment Board bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,800 shares of the company’s stock, valued at approximately $425,000.

Other large investors have also recently modified their holdings of the company. Byrne Asset Management LLC raised its position in Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock valued at $47,000 after purchasing an additional 133 shares in the last quarter. Allworth Financial LP grew its holdings in Construction Partners by 15.0% during the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock worth $114,000 after acquiring an additional 160 shares in the last quarter. Summit Investment Advisors Inc. increased its position in Construction Partners by 5.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company’s stock valued at $397,000 after purchasing an additional 213 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. Finally, HighTower Advisors LLC lifted its position in shares of Construction Partners by 1.2% in the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company’s stock worth $2,612,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Shares of ROAD stock opened at $81.16 on Friday. Construction Partners, Inc. has a fifty-two week low of $49.86 and a fifty-two 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 firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 75.85, a PEG ratio of 0.99 and a beta of 0.85. The stock’s 50-day simple moving average is $73.91 and its 200-day simple moving average is $82.83.

Insiders Place Their Bets

In related news, SVP John L. Harper sold 6,000 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the transaction, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Fred Julius Smith III purchased 9,333 shares of the company’s stock in a transaction on Monday, April 14th. The shares were purchased at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the purchase, the chief executive officer now owns 9,333 shares in the company, valued at approximately $689,055.39. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. 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 note on Thursday, January 16th. DA Davidson reiterated a “neutral” rating and issued 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 shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th.

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.