Alliancebernstein L.P. Has $113.12 Million Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Alliancebernstein L.P. lowered its position in Construction Partners, Inc. (NASDAQ:ROAD) by 21.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,278,733 shares of the company’s stock after selling 346,462 shares during the period. Alliancebernstein L.P. owned 2.29% of Construction Partners worth $113,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROAD. USA Financial Formulas acquired a new position in shares of Construction Partners during the 4th quarter worth $31,000. Mather Group LLC. bought a new stake in Construction Partners in the fourth quarter worth $33,000. Byrne Asset Management LLC increased its position in Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after buying an additional 133 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock valued at $48,000 after buying an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Construction Partners in the fourth quarter worth about $50,000. Institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ROAD. DA Davidson reissued a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird lifted 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. Finally, Raymond James decreased 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 report on Thursday, January 16th.

Construction Partners Stock Performance

ROAD opened at $76.40 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The stock’s 50 day moving average price is $75.68 and its two-hundred day moving average price is $82.27. The firm has a market capitalization of $4.27 billion, a P/E ratio of 71.40, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-month high of $103.69.

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.