Construction Partners, Inc. $ROAD Stock: Van Berkom & Associates Inc. Raises Holdings

Van Berkom & Associates Inc. boosted its position in Construction Partners, Inc. (NASDAQ:ROAD) by 45.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606,302 shares of the company’s stock after buying an additional 189,576 shares during the period. Van Berkom & Associates Inc.’s holdings in Construction Partners were worth $54,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP increased its stake in Construction Partners by 29.6% during the 1st quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock valued at $114,496,000 after purchasing an additional 235,616 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Construction Partners by 20.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock worth $119,776,000 after buying an additional 172,034 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Construction Partners by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock worth $109,214,000 after acquiring an additional 156,469 shares during the period. Bank of New York Mellon Corp bought a new stake in Construction Partners during the second quarter worth $78,248,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Construction Partners by 11.1% during the first quarter. Dimensional Fund Advisors LP now owns 587,477 shares of the company’s stock worth $65,271,000 after acquiring an additional 58,908 shares during the period. Institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $85.30 on Tuesday. The stock has a market cap of $4.84 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 0.74 and a beta of 0.94. Construction Partners, Inc. has a fifty-two week low of $74.51 and a fifty-two week high of $151.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.26 and a current ratio of 1.57. The stock has a fifty day moving average of $91.25 and a 200-day moving average of $110.20.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The company had revenue of $999.42 million for the quarter, compared to analyst estimates of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 EPS. Equities research analysts anticipate that Construction Partners, Inc. will post 2.93 earnings per share for the current year.

Analyst Ratings Changes

ROAD has been the topic of several research analyst reports. Truist Financial cut their price objective on Construction Partners from $130.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $125.00 target price on shares of Construction Partners in a research report on Friday. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Finally, Robert W. Baird lowered their price objective on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

Construction Partners Profile

Construction Partners, Inc is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers.

The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.

Founded in 2007 and headquartered in Dothan, Alabama, Construction Partners operates across the southeastern United States and in Texas.