Principal Financial Group Inc. Boosts Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Principal Financial Group Inc. grew its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 86.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 40,229 shares of the company’s stock after acquiring an additional 18,664 shares during the period. Principal Financial Group Inc. owned about 0.08% of Construction Partners worth $2,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. grew its holdings in shares of Construction Partners by 39.3% during the 1st quarter. Benjamin Edwards Inc. now owns 6,897 shares of the company’s stock worth $387,000 after acquiring an additional 1,945 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Construction Partners by 244.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company’s stock worth $66,000 after purchasing an additional 836 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $116,000. Simplicity Wealth LLC bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $965,000. Finally, Wasatch Advisors LP boosted its position in shares of Construction Partners by 188.3% in the 1st quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock worth $95,024,000 after purchasing an additional 1,105,423 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD traded down $1.00 during midday trading on Friday, hitting $53.35. The company had a trading volume of 40,394 shares, compared to its average volume of 355,180. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.64 and a quick ratio of 1.28. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 46.45, a PEG ratio of 1.28 and a beta of 0.66. Construction Partners, Inc. has a 12-month low of $27.96 and a 12-month high of $62.35. The company has a fifty day moving average of $55.73 and a two-hundred day moving average of $50.92.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, May 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. Construction Partners had a return on equity of 12.00% and a net margin of 3.68%. The business had revenue of $371.43 million during the quarter, compared to analyst estimates of $363.12 million. During the same quarter in the prior year, the business posted ($0.11) EPS. Construction Partners’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts expect that Construction Partners, Inc. will post 1.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on ROAD. Sidoti cut Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a research report on Thursday, March 28th. Robert W. Baird upped their price objective on Construction Partners from $50.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Construction Partners Profile

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.