Alliancebernstein L.P. Sells 346,462 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Alliancebernstein L.P. trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 21.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,278,733 shares of the company’s stock after selling 346,462 shares during the quarter. Alliancebernstein L.P.’s holdings in Construction Partners were worth $113,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ROAD. Sheets Smith Wealth Management bought a new position in shares of Construction Partners during the 4th quarter worth about $632,000. Artemis Investment Management LLP bought a new position in Construction Partners during the fourth quarter worth about $18,893,000. Washington University acquired a new stake in Construction Partners during the fourth quarter valued at approximately $3,452,000. Sanctuary Advisors LLC bought a new stake in shares of Construction Partners in the 3rd quarter valued at approximately $288,000. Finally, State Street Corp grew its stake in shares of Construction Partners by 2.7% in the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after purchasing an additional 26,189 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ROAD has been the topic of several recent analyst reports. Raymond James decreased their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. Finally, Robert W. Baird increased their target price 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.

Construction Partners Trading Up 4.3 %

Shares of ROAD opened at $76.40 on Thursday. Construction Partners, Inc. has a 52-week low of $49.16 and a 52-week high of $103.69. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 71.40, a PEG ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The stock has a fifty day moving average price of $75.68 and a two-hundred day moving average price of $82.27.

Construction Partners 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.