Intellectus Partners LLC Purchases New Shares in Construction Partners, Inc. (NASDAQ:ROAD)

Intellectus Partners LLC acquired a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,705 shares of the company’s stock, valued at approximately $239,000.

A number of other hedge funds have also bought and sold shares of the company. Sheets Smith Wealth Management bought a new stake in shares of Construction Partners in the 4th quarter worth about $632,000. Segall Bryant & Hamill LLC bought a new stake in Construction Partners in the third quarter worth about $10,377,000. Intech Investment Management LLC bought a new stake in Construction Partners in the third quarter worth about $778,000. Artemis Investment Management LLP purchased a new position in shares of Construction Partners during the fourth quarter valued at approximately $18,893,000. Finally, Washington University bought a new position in shares of Construction Partners during the fourth quarter valued at approximately $3,452,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Up 1.6 %

ROAD opened at $69.41 on Friday. 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 fifty day moving average is $81.65 and its two-hundred day moving average is $80.88. The company has a market capitalization of $3.88 billion, a P/E ratio of 64.87, a PEG ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Raymond James decreased their price target on 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. Robert W. Baird lifted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, DA Davidson restated a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Construction Partners presently has an average rating of “Moderate Buy” and an average target price of $85.40.

Insider Transactions at Construction Partners

In other news, Director Suntx Capital Ii Management Co sold 12,731 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $99.78, for a total value of $1,270,299.18. Following the completion of the sale, the director now owns 17,000 shares of the company’s stock, valued at approximately $1,696,260. This represents a 42.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Todd Keith Andrews sold 5,489 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the transaction, the chief accounting officer now owns 17,394 shares in the company, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,934 shares of company stock valued at $4,173,032. 16.36% of the stock is currently owned by corporate insiders.

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.