Intech Investment Management LLC Sells 4,834 Shares of Construction Partners, Inc. $ROAD

Intech Investment Management LLC lowered its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 19.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,458 shares of the company’s stock after selling 4,834 shares during the period. Intech Investment Management LLC’s holdings in Construction Partners were worth $2,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROAD. TD Waterhouse Canada Inc. acquired a new position in shares of Construction Partners during the 3rd quarter worth about $25,000. AlphaQuest LLC boosted its position in Construction Partners by 292.5% during the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after purchasing an additional 155 shares during the last quarter. MAI Capital Management bought a new position in Construction Partners in the second quarter valued at approximately $44,000. Mather Group LLC. bought a new position in Construction Partners in the third quarter valued at approximately $47,000. Finally, First Horizon Corp acquired a new position in shares of Construction Partners during the 3rd quarter worth approximately $49,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Performance

NASDAQ ROAD opened at $135.25 on Wednesday. The stock has a market cap of $7.64 billion, a PE ratio of 61.48, a P/E/G ratio of 1.22 and a beta of 0.83. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59. The firm has a 50-day moving average of $120.33 and a 200-day moving average of $117.73. Construction Partners, Inc. has a 52-week low of $64.79 and a 52-week high of $141.90.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $809.47 million for the quarter, compared to analysts’ expectations of $740.14 million. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The business’s revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. On average, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on ROAD. DA Davidson increased their price objective on Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Zacks Research upgraded shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Bank of America decreased their price objective on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 21st. B. Riley Financial began coverage on shares of Construction Partners in a report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 target price on the stock. Finally, Robert W. Baird set a $142.00 target price on shares of Construction Partners in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and an average target price of $127.80.

About Construction Partners

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.