Aptus Capital Advisors LLC Grows Holdings in Construction Partners, Inc. $ROAD

Aptus Capital Advisors LLC increased its position in Construction Partners, Inc. (NASDAQ:ROAD) by 99.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,633 shares of the company’s stock after acquiring an additional 34,234 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Construction Partners were worth $7,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneva Capital Management LLC boosted its stake in Construction Partners by 0.3% in the 4th 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. Geode Capital Management LLC raised its position in shares of Construction Partners by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock valued at $126,364,000 after buying an additional 4,118 shares during the last quarter. State Street Corp raised its position in shares of Construction Partners by 4.7% during the second quarter. State Street Corp now owns 1,112,231 shares of the company’s stock valued at $118,208,000 after buying an additional 49,898 shares during the last quarter. First Trust Advisors LP raised its position in shares of Construction Partners by 33.2% during the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after buying an additional 264,069 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Construction Partners by 5.6% during the third quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock valued at $132,071,000 after buying an additional 55,049 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ROAD. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Truist Financial began coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective on the stock. 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, Raymond James Financial reiterated a “strong-buy” rating and set a $140.00 price objective on shares of Construction Partners in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Stock Up 5.6%

NASDAQ ROAD opened at $120.28 on Tuesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The company has a market capitalization of $6.80 billion, a P/E ratio of 52.75, a P/E/G ratio of 0.95 and a beta of 0.88. Construction Partners, Inc. has a one year low of $93.22 and a one year high of $151.00. The stock has a 50 day moving average price of $117.54 and a 200-day moving average price of $116.85.

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

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.