Hsbc Holdings PLC Boosts Stock Holdings in Construction Partners, Inc. $ROAD

Hsbc Holdings PLC grew its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 191.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,344 shares of the company’s stock after purchasing an additional 10,741 shares during the quarter. Hsbc Holdings PLC’s holdings in Construction Partners were worth $1,787,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Morse Asset Management Inc boosted its holdings in Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after acquiring an additional 180 shares during the period. Danske Bank A S purchased a new position in Construction Partners in the 3rd quarter worth approximately $38,000. Quarry LP purchased a new position in Construction Partners in the 3rd quarter worth approximately $42,000. NewEdge Advisors LLC lifted its position in Construction Partners by 161.1% in the second quarter. NewEdge Advisors LLC now owns 564 shares of the company’s stock valued at $60,000 after purchasing an additional 348 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in Construction Partners in the fourth quarter valued at approximately $61,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ROAD shares. Truist Financial initiated coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price on the stock. 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 raised shares of Construction Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. 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 reaffirmed a “strong-buy” rating and set a $140.00 price objective on shares of Construction Partners in a research note 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. Based on data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Price Performance

Shares of Construction Partners stock opened at $118.77 on Wednesday. The business has a 50 day moving average of $119.49 and a 200 day moving average of $118.14. Construction Partners, Inc. has a 52 week low of $93.22 and a 52 week high of $151.00. The company has a market cap of $6.71 billion, a PE ratio of 52.09, a P/E/G ratio of 1.00 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data 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 business had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. During the same period in the prior year, the business earned $0.08 EPS. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. As a group, equities research analysts forecast that Construction Partners, Inc. will post 2.95 earnings per share for the current year.

About Construction Partners

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.