JPMorgan Chase & Co. Sells 10,530 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

JPMorgan Chase & Co. reduced its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,641 shares of the company’s stock after selling 10,530 shares during the period. JPMorgan Chase & Co. owned 0.19% of Construction Partners worth $9,522,000 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 the company. Sheets Smith Wealth Management bought a new position in shares of Construction Partners in the 4th quarter worth $632,000. Artemis Investment Management LLP acquired a new position in shares of Construction Partners in the fourth quarter valued at about $18,893,000. Washington University purchased a new position in Construction Partners during the 4th quarter worth approximately $3,452,000. Sanctuary Advisors LLC acquired a new position in Construction Partners during the third quarter valued at $288,000. Finally, State Street Corp grew its holdings in Construction Partners by 2.7% during the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after acquiring an additional 26,189 shares during the period. 94.83% of the stock is owned by institutional investors.

Construction Partners Trading Down 0.9 %

Shares of NASDAQ ROAD opened at $79.63 on Tuesday. The stock has a market capitalization of $4.45 billion, a PE ratio of 74.42, a PEG ratio of 0.99 and a beta of 0.85. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock has a fifty day simple moving average of $74.43 and a 200-day simple moving average of $82.51. Construction Partners, Inc. has a twelve month low of $49.16 and a twelve month high of $103.69.

Analyst Ratings Changes

Several brokerages recently weighed in on ROAD. Raymond James cut their price target on 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. Robert W. Baird upped their price target on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, DA Davidson restated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th.

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.