Construction Partners Inc. reports major institutional stake adjustments

Principal Financial Group Inc. reduced its position in Construction Partners, Inc. (NASDAQ: ROAD) by selling 58,142 shares in the first quarter, leaving a holding of 3,450 shares valued at about $383,000. Dimensional Fund Advisors LP increased its stake during the same period, acquiring an additional 58,908 shares to own 587,477 shares, representing roughly 1.04% of the company and valued at $65.3 million.

Other institutional investors also altered their holdings: AQR Capital Management LLC raised its stake by 14.4%, UBS Asset Management Americas LLC added 9,656 shares, Intech Investment Management LLC increased its position by 11.4%, and HSBC Holdings PLC purchased a new stake in the second quarter. Overall, 94.83% of Construction Partners’ stock is owned by institutional investors.