Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Nicholas Company Inc.

Nicholas Company Inc. trimmed its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,163 shares of the company’s stock after selling 5,594 shares during the quarter. Nicholas Company Inc. owned approximately 0.18% of Construction Partners worth $9,126,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ROAD. USA Financial Formulas acquired a new position in shares of Construction Partners in the fourth quarter worth $31,000. Mather Group LLC. purchased a new position in Construction Partners during the fourth quarter worth about $33,000. Byrne Asset Management LLC lifted 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 period. Nisa Investment Advisors LLC lifted its position in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after buying an additional 433 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Construction Partners during the fourth quarter worth about $50,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD opened at $71.58 on Friday. The firm has a market capitalization of $4.00 billion, a PE ratio of 66.90, a P/E/G ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The business has a 50-day moving average of $79.66 and a two-hundred day moving average of $81.07. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69.

Insider Activity

In other news, CAO Todd Keith Andrews sold 5,489 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the completion of the sale, the chief accounting officer now owns 17,394 shares in the company, valued at approximately $1,597,464.96. This trade represents a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Robert W. Baird increased 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. Raymond James reduced their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 16th. Finally, DA Davidson reiterated a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.40.

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.