Capital World Investors Has $92.99 Million Stock Position in Construction Partners, Inc. $ROAD

Capital World Investors increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 97.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 856,696 shares of the company’s stock after purchasing an additional 423,033 shares during the quarter. Capital World Investors owned approximately 1.52% of Construction Partners worth $92,994,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ROAD. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Construction Partners during the 4th quarter worth about $42,518,000. First Trust Advisors LP increased its position in shares of Construction Partners by 33.2% during the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after purchasing an additional 264,069 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Construction Partners by 176.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 361,837 shares of the company’s stock valued at $39,277,000 after acquiring an additional 231,160 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Construction Partners by 38.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 810,881 shares of the company’s stock valued at $90,948,000 after acquiring an additional 224,575 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Construction Partners by 41.9% in the 3rd quarter. Bank of America Corp DE now owns 757,172 shares of the company’s stock valued at $96,161,000 after acquiring an additional 223,549 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Trading Up 2.9%

ROAD opened at $109.43 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $6.19 billion, a PE ratio of 48.00, a PEG ratio of 0.89 and a beta of 0.88. Construction Partners, Inc. has a 1-year low of $93.22 and a 1-year high of $151.00. The firm has a 50-day moving average price of $117.38 and a two-hundred day moving average price of $116.61.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The company had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter in the previous year, the company earned $0.08 EPS. Construction Partners’s revenue was up 34.6% on a year-over-year basis. As a group, equities analysts anticipate that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Robert W. Baird raised their price objective on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Truist Financial assumed coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and an average target price of $136.50.

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.