KLP Kapitalforvaltning AS Takes Position in Construction Partners, Inc. (NASDAQ:ROAD)

KLP Kapitalforvaltning AS acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,100 shares of the company’s stock, valued at approximately $805,000.

Several other large investors have also modified their holdings of the company. Sei Investments Co. lifted its position in Construction Partners by 124.0% during the 4th quarter. Sei Investments Co. now owns 168,491 shares of the company’s stock worth $14,905,000 after acquiring an additional 93,260 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Construction Partners in the fourth quarter worth about $146,000. Xponance Inc. acquired a new position in shares of Construction Partners during the 4th quarter worth about $271,000. Intech Investment Management LLC boosted its stake in Construction Partners by 95.8% during the 4th quarter. Intech Investment Management LLC now owns 21,810 shares of the company’s stock valued at $1,929,000 after purchasing an additional 10,671 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in Construction Partners in the 4th quarter valued at approximately $355,000. 94.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ROAD shares. DA Davidson reissued a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. 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, Robert W. Baird boosted their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, February 10th.

Construction Partners Stock Performance

Shares of NASDAQ ROAD opened at $71.87 on Tuesday. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 67.17, a PEG ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a one year low of $49.16 and a one year high of $103.69. The business has a fifty day simple moving average of $76.40 and a 200 day simple moving average of $82.25. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

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.