Kestra Private Wealth Services LLC Takes Position in Construction Partners, Inc. $ROAD

Kestra Private Wealth Services LLC bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the first quarter, according to its most recent filing with the SEC. The fund bought 6,523 shares of the company’s stock, valued at approximately $725,000.

A number of other hedge funds also recently modified their holdings of ROAD. Capital World Investors increased its position in Construction Partners by 97.5% in the fourth quarter. Capital World Investors now owns 856,696 shares of the company’s stock worth $92,994,000 after buying an additional 423,033 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Construction Partners in the fourth quarter valued at $42,518,000. Invesco Ltd. lifted its position in shares of Construction Partners by 23.7% during the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock valued at $160,862,000 after buying an additional 284,082 shares during the last quarter. First Trust Advisors LP lifted 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 valued at $134,565,000 after buying an additional 264,069 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Construction Partners by 176.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 361,837 shares of the company’s stock worth $39,277,000 after acquiring an additional 231,160 shares during the period. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $107.92 on Friday. The firm has a market cap of $6.10 billion, a PE ratio of 47.33, a price-to-earnings-growth ratio of 0.91 and a beta of 0.88. 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 business has a 50 day moving average price of $118.82 and a 200-day moving average price of $118.12. Construction Partners, Inc. has a fifty-two week low of $93.22 and a fifty-two week high of $151.00.

Construction Partners (NASDAQ:ROAD) last announced 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. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company had revenue of $769.20 million during the quarter, compared to the consensus estimate of $678.46 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. Equities research analysts predict that Construction Partners, Inc. will post 2.95 earnings per share for the current year.

Wall Street Analyst Weigh In

ROAD has been the subject of several recent research reports. Robert W. Baird decreased their price objective on Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Truist Financial initiated coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price for the company. Raymond James Financial restated a “strong-buy” rating and set a $140.00 target price on shares of Construction Partners in a research report on Monday, April 27th. Finally, Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and an average price target of $132.50.

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.