Construction Partners, Inc. $ROAD is Engle Capital Management L.P.’s 4th Largest Position

Engle Capital Management L.P. increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 51.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 185,000 shares of the company’s stock after purchasing an additional 63,026 shares during the quarter. Construction Partners accounts for approximately 7.7% of Engle Capital Management L.P.’s portfolio, making the stock its 4th largest position. Engle Capital Management L.P.’s holdings in Construction Partners were worth $20,082,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. MAI Capital Management increased its stake in shares of Construction Partners by 21.7% during the third quarter. MAI Capital Management now owns 505 shares of the company’s stock valued at $64,000 after buying an additional 90 shares during the period. &PARTNERS raised its stake in Construction Partners by 2.5% in the fourth quarter. &PARTNERS now owns 6,899 shares of the company’s stock worth $749,000 after buying an additional 167 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Construction Partners by 13.9% in the fourth quarter. GAMMA Investing LLC now owns 1,467 shares of the company’s stock worth $159,000 after buying an additional 179 shares during the period. Morse Asset Management Inc boosted its position in Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after acquiring an additional 180 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Construction Partners by 6.8% during the 4th quarter. Sanctuary Advisors LLC now owns 3,604 shares of the company’s stock worth $391,000 after acquiring an additional 229 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ROAD shares. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Raymond James Financial reissued a “strong-buy” rating and set a $140.00 price objective on shares of Construction Partners in a research report on Monday, April 27th. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their price target for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. Truist Financial assumed coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price for the company. Finally, Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus target price of $136.50.

Construction Partners Price Performance

ROAD opened at $120.26 on Thursday. The stock has a 50-day moving average price of $118.09 and a 200-day moving average price of $117.03. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The firm has a market cap of $6.80 billion, a PE ratio of 52.75, a P/E/G ratio of 1.02 and a beta of 0.88. Construction Partners, Inc. has a 1 year low of $93.22 and a 1 year high of $151.00.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.23. The company had revenue of $769.20 million for the quarter, compared to the consensus estimate of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. Construction Partners’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS. Sell-side analysts predict that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

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.