Vanguard Group Inc. Sells 36,320 Shares of Construction Partners, Inc. $ROAD

Vanguard Group Inc. lowered its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 0.8% in the third quarter, Holdings Channel reports. The institutional investor owned 4,568,755 shares of the company’s stock after selling 36,320 shares during the period. Vanguard Group Inc. owned 0.08% of Construction Partners worth $580,232,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Construction Partners by 4.2% in the 2nd quarter. Invesco Ltd. now owns 1,308,761 shares of the company’s stock valued at $139,095,000 after acquiring an additional 52,670 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Construction Partners by 1.6% in the second quarter. Geode Capital Management LLC now owns 1,153,123 shares of the company’s stock valued at $122,568,000 after purchasing an additional 18,229 shares in the last quarter. State Street Corp lifted its position in Construction Partners by 4.7% in the second quarter. State Street Corp now owns 1,112,231 shares of the company’s stock worth $118,208,000 after purchasing an additional 49,898 shares during the period. American Century Companies Inc. boosted its stake in Construction Partners by 19.9% during the second quarter. American Century Companies Inc. now owns 984,879 shares of the company’s stock worth $104,673,000 after buying an additional 163,334 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Construction Partners by 6.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 842,535 shares of the company’s stock valued at $89,545,000 after buying an additional 49,542 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Performance

Shares of ROAD opened at $138.88 on Wednesday. The firm has a market cap of $7.85 billion, a P/E ratio of 63.13, a PEG ratio of 1.22 and a beta of 0.87. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $141.90. The firm’s 50 day moving average price is $117.77 and its two-hundred day moving average price is $116.95. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $740.14 million. During the same period in the prior year, the firm earned $0.25 earnings per share. Construction Partners’s revenue for the quarter was up 44.1% compared to the same quarter last year. On average, analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ROAD shares. DA Davidson raised their price objective 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. Bank of America cut their price target on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Robert W. Baird set a $142.00 price objective on Construction Partners in a research note on Friday, February 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Finally, Zacks Research upgraded Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $127.80.

Construction Partners Company 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.