Allspring Global Investments Holdings LLC Acquires 156,469 Shares of Construction Partners, Inc. $ROAD

Allspring Global Investments Holdings LLC grew its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 19.3% during the first quarter, Holdings Channel.com reports. The fund owned 967,350 shares of the company’s stock after purchasing an additional 156,469 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Construction Partners were worth $109,214,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ROAD. Vaughan Nelson Investment Management L.P. acquired a new stake in Construction Partners in the fourth quarter worth about $42,518,000. Artemis Investment Management LLP raised its stake in shares of Construction Partners by 7.8% during the 4th quarter. Artemis Investment Management LLP now owns 708,617 shares of the company’s stock worth $76,920,000 after buying an additional 51,052 shares during the period. Comerica Bank raised its stake in shares of Construction Partners by 30.1% during the 4th quarter. Comerica Bank now owns 255,975 shares of the company’s stock worth $27,786,000 after buying an additional 59,244 shares during the period. 49 Wealth Management LLC purchased a new position in shares of Construction Partners during the 4th quarter valued at approximately $3,076,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Construction Partners by 219.6% during the 4th quarter. State of Alaska Department of Revenue now owns 8,265 shares of the company’s stock valued at $896,000 after buying an additional 5,679 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Up 2.0%

NASDAQ:ROAD opened at $104.47 on Friday. 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 firm has a market cap of $5.91 billion, a PE ratio of 45.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88. The stock has a fifty day moving average price of $113.53 and a 200 day moving average price of $117.32. Construction Partners, Inc. has a 12-month low of $93.22 and a 12-month high of $151.00.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping 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 business had revenue of $769.20 million during the quarter, compared to the consensus estimate of $678.46 million. During the same period in the previous year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. Sell-side analysts anticipate that Construction Partners, Inc. will post 2.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Robert W. Baird cut their price target on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Truist Financial initiated coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price on the stock. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their target price for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Finally, Raymond James Financial lowered their price target on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.17.

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.