Construction Partners, Inc. $ROAD Holdings Trimmed by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 28.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,431 shares of the company’s stock after selling 9,506 shares during the quarter. DAVENPORT & Co LLC’s holdings in Construction Partners were worth $2,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROAD. AQR Capital Management LLC grew its stake in shares of Construction Partners by 14.4% in the 1st quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock worth $743,000 after purchasing an additional 1,302 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Construction Partners by 11.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company’s stock valued at $6,913,000 after purchasing an additional 9,656 shares during the last quarter. Intech Investment Management LLC lifted its stake in Construction Partners by 11.4% during the first quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock valued at $1,746,000 after purchasing an additional 2,482 shares during the last quarter. Strs Ohio bought a new stake in Construction Partners during the first quarter worth approximately $165,000. Finally, JPMorgan Chase & Co. grew its position in Construction Partners by 24.7% in the second quarter. JPMorgan Chase & Co. now owns 140,742 shares of the company’s stock worth $14,958,000 after buying an additional 27,901 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Robert W. Baird set a $142.00 price target on Construction Partners in a report on Friday, February 6th. Zacks Research raised Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. DA Davidson boosted their target price on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, B. Riley Financial assumed coverage on Construction Partners in a report on Thursday, January 15th. They set a “neutral” rating and a $117.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.80.

Construction Partners Stock Down 0.6%

ROAD stock opened at $109.04 on Friday. Construction Partners, Inc. has a 52-week low of $64.79 and a 52-week high of $141.90. The company’s 50 day simple moving average is $121.83 and its 200-day simple moving average is $117.49. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.59 and a quick ratio of 1.26. The firm has a market capitalization of $6.16 billion, a P/E ratio of 49.56, a P/E/G ratio of 0.96 and a beta of 0.83.

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

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.