Vanguard Group Inc. Has $580.23 Million Position in Construction Partners, Inc. $ROAD

Vanguard Group Inc. lessened its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,568,755 shares of the company’s stock after selling 36,320 shares during the period. Vanguard Group Inc. owned about 8.15% of Construction Partners worth $580,232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ROAD. Bank of New York Mellon Corp lifted its stake in Construction Partners by 81.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,783 shares of the company’s stock worth $52,798,000 after acquiring an additional 223,457 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Construction Partners by 19.9% during the second quarter. American Century Companies Inc. now owns 984,879 shares of the company’s stock worth $104,673,000 after purchasing an additional 163,334 shares during the period. Franklin Resources Inc. grew its position in Construction Partners by 42.4% during the second quarter. Franklin Resources Inc. now owns 468,926 shares of the company’s stock valued at $49,837,000 after purchasing an additional 139,707 shares in the last quarter. Jump Financial LLC increased its stake in Construction Partners by 509.3% in the 2nd quarter. Jump Financial LLC now owns 144,697 shares of the company’s stock valued at $15,378,000 after buying an additional 120,949 shares during the period. Finally, AGF Management Ltd. purchased a new stake in Construction Partners in the 3rd quarter worth approximately $15,062,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Up 6.4%

Construction Partners stock opened at $138.88 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.59 and a quick ratio of 1.26. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $141.90. The firm has a fifty day moving average price of $117.77 and a two-hundred day moving average price of $116.95. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 63.13, a P/E/G ratio of 1.22 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $809.47 million during the quarter, compared to analysts’ expectations of $740.14 million. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The firm’s revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ROAD shares. Bank of America dropped their price target on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Robert W. Baird set a $142.00 price target on Construction Partners in a report on Friday, February 6th. B. Riley Financial assumed coverage on Construction Partners in a report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price objective on the stock. Finally, DA Davidson lifted their target price on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $127.80.

Construction Partners Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.