Capital World Investors Has $92.99 Million Stake in Construction Partners, Inc. $ROAD

Capital World Investors lifted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROADFree Report) by 97.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 856,696 shares of the company’s stock after acquiring an additional 423,033 shares during the period. Capital World Investors’ holdings in Construction Partners were worth $92,994,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tyro Capital Management LLC grew its position in shares of Construction Partners by 6.8% during the 3rd quarter. Tyro Capital Management LLC now owns 164,488 shares of the company’s stock worth $20,890,000 after buying an additional 10,465 shares during the period. American Century Companies Inc. grew its position in shares of Construction Partners by 5.6% during the 3rd quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock worth $132,071,000 after buying an additional 55,049 shares during the period. Telligent Fund LP acquired a new stake in shares of Construction Partners during the 3rd quarter worth approximately $1,016,000. First Trust Advisors LP grew its position in shares of Construction Partners by 33.2% during the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after buying an additional 264,069 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Construction Partners during the 4th quarter worth approximately $42,518,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Up 2.9%

Construction Partners stock opened at $109.43 on Wednesday. The company’s 50 day simple moving average is $117.38 and its 200 day simple moving average is $116.61. Construction Partners, Inc. has a fifty-two week low of $93.22 and a fifty-two week high of $151.00. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 48.00, a PEG ratio of 0.89 and a beta of 0.88. 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:ROADGet Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The business had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. During the same quarter last year, the firm earned $0.08 EPS. Construction Partners’s quarterly revenue was up 34.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 2.95 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. 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 price objective on the stock. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. Robert W. Baird lifted their price objective on shares of Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.50.

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Construction Partners Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Construction Partners (NASDAQ:ROAD)

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