Russell Investments Group Ltd. Sells 13,946 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Russell Investments Group Ltd. lowered its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,325 shares of the company’s stock after selling 13,946 shares during the quarter. Russell Investments Group Ltd.’s holdings in Construction Partners were worth $8,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ROAD. Vanguard Group Inc. raised its holdings in Construction Partners by 42.8% in the 4th 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Construction Partners during the fourth quarter valued at approximately $42,527,000. Allspring Global Investments Holdings LLC raised its stake in shares of Construction Partners by 197.0% in the fourth 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. lifted its position in Construction Partners by 6,332.5% in 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 acquired a new stake in Construction Partners during the fourth quarter worth $18,893,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Up 2.9 %

Shares of NASDAQ:ROAD opened at $80.36 on Friday. The company’s fifty day moving average is $74.45 and its 200-day moving average is $82.35. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69. The company has a market capitalization of $4.49 billion, a PE ratio of 75.10, a P/E/G ratio of 0.99 and a beta of 0.85.

Analyst Upgrades and Downgrades

ROAD has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. DA Davidson reissued a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Raymond James cut 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 research note on Thursday, January 16th.

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.