Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Verus Capital Partners LLC

Verus Capital Partners LLC lessened its position in Construction Partners, Inc. (NASDAQ:ROAD) by 21.9% during the fourth quarter, Holdings Channel reports. The fund owned 3,514 shares of the company’s stock after selling 985 shares during the quarter. Verus Capital Partners LLC’s holdings in Construction Partners were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. State Street Corp grew its position in Construction Partners by 2.7% in the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after buying an additional 26,189 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Construction Partners by 197.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after buying an additional 408,610 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Construction Partners by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company’s stock valued at $31,634,000 after buying an additional 4,009 shares in the last quarter. Fred Alger Management LLC bought a new position in Construction Partners in the 3rd quarter valued at about $16,535,000. Finally, Artemis Investment Management LLP bought a new position in Construction Partners in the 4th quarter valued at about $18,893,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $72.53 on Friday. Construction Partners, Inc. has a twelve month low of $47.57 and a twelve month high of $103.69. 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 company has a 50-day moving average of $83.84 and a 200-day moving average of $80.62. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 67.79, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74.

Insider Activity

In other Construction Partners news, CAO Todd Keith Andrews sold 2,511 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $95.86, for a total transaction of $240,704.46. Following the completion of the sale, the chief accounting officer now directly owns 19,339 shares of the company’s stock, valued at approximately $1,853,836.54. This represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the sale, the senior vice president now directly owns 154,856 shares of the company’s stock, valued at $14,619,954.96. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,225 shares of company stock worth $13,904,358. Corporate insiders own 16.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROAD. DA Davidson reiterated a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird raised their price objective 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.