Meeder Asset Management Inc. Invests $646,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Meeder Asset Management Inc. purchased a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,307 shares of the company’s stock, valued at approximately $646,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas bought a new position in Construction Partners in the 4th quarter valued at $31,000. Mather Group LLC. acquired a new position in shares of Construction Partners during the fourth quarter valued at $33,000. Byrne Asset Management LLC boosted its holdings in Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock valued at $47,000 after acquiring an additional 133 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Construction Partners by 400.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after purchasing an additional 433 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Construction Partners during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of ROAD stock opened at $71.87 on Tuesday. The stock has a market cap of $4.02 billion, a PE ratio of 67.17, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The stock has a 50-day moving average of $76.40 and a 200-day moving average of $82.25. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. Construction Partners, Inc. has a one year low of $49.16 and a one year high of $103.69.

Analyst Upgrades and Downgrades

ROAD has been the topic of several recent research reports. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Robert W. Baird raised 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. Finally, Raymond James lowered their target price 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.

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.