Legato Capital Management LLC Boosts Stock Holdings in Construction Partners, Inc. $ROAD

Legato Capital Management LLC boosted its position in Construction Partners, Inc. (NASDAQ:ROAD) by 20.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 33,003 shares of the company’s stock after purchasing an additional 5,660 shares during the period. Legato Capital Management LLC’s holdings in Construction Partners were worth $3,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. State Street Corp lifted its stake in Construction Partners by 4.7% in the second quarter. State Street Corp now owns 1,112,231 shares of the company’s stock valued at $118,208,000 after purchasing an additional 49,898 shares during the last quarter. First Trust Advisors LP lifted its stake in Construction Partners by 33.2% in the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after purchasing an additional 264,069 shares during the last quarter. American Century Companies Inc. lifted its stake in Construction Partners by 5.6% in the third quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock valued at $132,071,000 after purchasing an additional 55,049 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Construction Partners by 6.2% in the second quarter. Ameriprise Financial Inc. now owns 842,535 shares of the company’s stock valued at $89,545,000 after purchasing an additional 49,542 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Construction Partners by 38.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 810,881 shares of the company’s stock valued at $90,948,000 after purchasing an additional 224,575 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Up 1.3%

NASDAQ:ROAD opened at $112.86 on Friday. The company has a market cap of $6.38 billion, a P/E ratio of 49.50, a P/E/G ratio of 0.93 and a beta of 0.92. The stock’s fifty day moving average price is $117.35 and its two-hundred day moving average price is $116.30. Construction Partners, Inc. has a 1 year low of $93.22 and a 1 year high of $151.00. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21.

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

Analyst Ratings Changes

Several research firms recently commented on ROAD. Robert W. Baird upped their price objective on Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. DA Davidson increased their target price on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, Weiss Ratings upgraded Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.80.

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.