5 Stocks US Senators Are Selling

4. Construction Partners, Inc. (NASDAQ:ROAD)

Number of Hedge Fund Holders: 9

Construction Partners, Inc. (NASDAQ:ROAD) is an Alabama-based company that engages in the construction and maintenance of roads across Alabama, Florida, Georgia, North Carolina, and South Carolina. Other infrastructure projects include bridges, airports, commercial establishments, and residential communities.

Mark Warner, a senior United States senator from Virginia, sold shares of Construction Partners, Inc. (NASDAQ:ROAD) worth between $100,000 and $250,000 on January 31. The transaction was disclosed on February 19. 

Baird analyst Andrew Wittmann on January 25 lowered the price target on Construction Partners, Inc. (NASDAQ:ROAD) to $31 from $38 and maintained an Outperform rating on the shares. The analyst said his investigation suggests a strong backdrop, hence he kept his positive rating with more conviction after the recent weakness in the shares.

According to Insider Monkey’s Q4 data, 9 hedge funds were bullish on Construction Partners, Inc. (NASDAQ:ROAD), compared to 7 funds in the last quarter. Chuck Royce’s Royce & Associates is the biggest stakeholder of the company, with 700,971 shares worth $20.6 million. 

Here is what Wasatch Micro Cap Value Fund has to say about Construction Partners, Inc. (NASDAQ:ROAD) in its Q1 2021 investor letter:

“The second company is Construction Partners, Inc. (ROAD), which does work on public and private infrastructure projects including highways, roads, bridges, airports, and commercial and residential sites. Construction Partners avoid Department of Transportation projects, which tend to have low margins. On a comparative basis, we believe Sterling is less richly valued than Construction Partners, but we continue to like both companies as attractive investments.”