Thames Capital Management LLC Invests $6.79 Million in Construction Partners, Inc. (NASDAQ:ROAD)

Thames Capital Management LLC purchased a new position in Construction Partners, Inc. (NASDAQ:ROAD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 76,790 shares of the company’s stock, valued at approximately $6,793,000. Construction Partners accounts for approximately 1.8% of Thames Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Thames Capital Management LLC owned 0.14% of Construction Partners as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ROAD. Vanguard Group Inc. boosted its position in Construction Partners by 42.8% during the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company’s stock valued at $308,935,000 after acquiring an additional 1,046,617 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Construction Partners during the 4th quarter valued at about $42,527,000. Allspring Global Investments Holdings LLC boosted its position in shares of Construction Partners by 197.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after purchasing an additional 408,610 shares in the last quarter. Franklin Resources Inc. grew its stake in Construction Partners by 6,332.5% during the fourth quarter. Franklin Resources Inc. now owns 235,880 shares of the company’s stock worth $20,866,000 after purchasing an additional 232,213 shares during the period. Finally, Artemis Investment Management LLP bought a new stake in Construction Partners in the fourth quarter worth approximately $18,893,000. 94.83% of the stock is owned by institutional investors.

Construction Partners Price Performance

Shares of NASDAQ:ROAD opened at $68.75 on Friday. Construction Partners, Inc. has a twelve month low of $49.16 and a twelve month high of $103.69. The stock’s 50 day moving average is $75.14 and its 200-day moving average is $82.28. 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 firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 64.25, a PEG ratio of 0.99 and a beta of 0.85.

Analysts Set New Price Targets

Several analysts have recently commented on ROAD shares. Robert W. Baird raised their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Raymond James reduced their price target 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. Finally, DA Davidson reiterated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th.

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.