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

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

Several other hedge funds and other institutional investors have also bought and sold shares of ROAD. Atria Investments Inc grew its stake in Construction Partners by 5.5% during the second quarter. Atria Investments Inc now owns 16,129 shares of the company’s stock worth $1,714,000 after buying an additional 835 shares in the last quarter. Castleark Management LLC bought a new stake in shares of Construction Partners during the 2nd quarter worth approximately $5,386,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Construction Partners by 10.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 100,106 shares of the company’s stock worth $12,713,000 after acquiring an additional 9,435 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Construction Partners by 81.8% during 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. Finally, Prudential Financial Inc. increased its stake in Construction Partners by 1,174.9% in the second quarter. Prudential Financial Inc. now owns 44,316 shares of the company’s stock valued at $4,710,000 after acquiring an additional 40,840 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Construction Partners Price Performance

Shares of ROAD opened at $135.25 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 1.76. The stock has a market cap of $7.64 billion, a PE ratio of 61.48, a PEG ratio of 1.22 and a beta of 0.83. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $141.90. The business has a 50-day simple moving average of $120.33 and a two-hundred day simple moving average of $117.73.

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, topping the consensus estimate of $0.31 by $0.16. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The company had revenue of $809.47 million for the quarter, compared to analysts’ expectations of $740.14 million. During the same period in the previous year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. Analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.