American Century Companies Inc. Raises Stock Holdings in Construction Partners, Inc. $ROAD

American Century Companies Inc. grew its position in Construction Partners, Inc. (NASDAQ:ROAD) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,039,928 shares of the company’s stock after acquiring an additional 55,049 shares during the quarter. American Century Companies Inc.’s holdings in Construction Partners were worth $132,071,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. TD Waterhouse Canada Inc. acquired a new stake in Construction Partners during the 3rd quarter worth $25,000. AlphaQuest LLC raised its holdings in shares of Construction Partners by 292.5% in the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after buying an additional 155 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Construction Partners during the third quarter worth about $47,000. First Horizon Corp acquired a new stake in shares of Construction Partners during the third quarter worth about $49,000. Finally, MAI Capital Management purchased a new position in shares of Construction Partners during the second quarter worth about $44,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Trading Down 0.9%

NASDAQ:ROAD opened at $134.37 on Monday. Construction Partners, Inc. has a 1 year low of $64.79 and a 1 year high of $141.90. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59. The stock has a fifty day moving average price of $119.37 and a two-hundred day moving average price of $117.37. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 1.20 and a beta of 0.83.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $809.47 million for the quarter, compared to analysts’ expectations of $740.14 million. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The business’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.