Wasatch Advisors LP Has $119.78 Million Position in Construction Partners, Inc. $ROAD

Wasatch Advisors LP boosted its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 20.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,008,474 shares of the company’s stock after acquiring an additional 172,034 shares during the quarter. Wasatch Advisors LP owned 1.78% of Construction Partners worth $119,776,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geneva Capital Management LLC lifted its stake in Construction Partners by 0.3% during the fourth quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company’s stock worth $197,684,000 after purchasing an additional 6,163 shares during the period. Invesco Ltd. grew its stake in shares of Construction Partners by 23.7% in the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock valued at $160,862,000 after purchasing an additional 284,082 shares during the period. Geode Capital Management LLC grew its stake in shares of Construction Partners by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock valued at $126,364,000 after purchasing an additional 4,118 shares during the period. State Street Corp raised its holdings in shares of Construction Partners by 4.7% in the 2nd quarter. State Street Corp now owns 1,112,231 shares of the company’s stock worth $118,208,000 after buying an additional 49,898 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Construction Partners by 29.6% in the 1st quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock worth $114,496,000 after buying an additional 235,616 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $120.79 on Wednesday. The stock has a market capitalization of $6.83 billion, a P/E ratio of 47.37, a price-to-earnings-growth ratio of 0.99 and a beta of 0.89. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68. Construction Partners, Inc. has a 1 year low of $93.42 and a 1 year high of $151.00. The firm has a 50 day moving average of $109.84 and a 200-day moving average of $116.67.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, August 7th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The business had revenue of $999.42 million for the quarter, compared to analyst estimates of $948.77 million. During the same period in the prior year, the company earned $0.81 EPS. Construction Partners’s revenue for the quarter was up 28.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 2.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Raymond James Financial decreased their price target on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 15th. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Truist Financial initiated coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price on the stock. Finally, Robert W. Baird lowered their target price on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday. One 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 stock. According to data from MarketBeat.com, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

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.