Clearbridge Investments LLC Has $91.84 Million Stake in Construction Partners, Inc. $ROAD

Clearbridge Investments LLC boosted its position in Construction Partners, Inc. (NASDAQ:ROAD) by 30.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 846,103 shares of the company’s stock after buying an additional 199,853 shares during the period. Clearbridge Investments LLC owned approximately 1.50% of Construction Partners worth $91,844,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ROAD. Capital World Investors raised its holdings in shares of Construction Partners by 97.5% during the fourth quarter. Capital World Investors now owns 856,696 shares of the company’s stock valued at $92,994,000 after purchasing an additional 423,033 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Construction Partners during the fourth quarter valued at about $42,518,000. First Trust Advisors LP raised its holdings 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 purchasing an additional 264,069 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Construction Partners by 176.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 361,837 shares of the company’s stock valued at $39,277,000 after purchasing an additional 231,160 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Construction Partners by 38.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 810,881 shares of the company’s stock valued at $90,948,000 after purchasing an additional 224,575 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Trading Down 3.8%

NASDAQ:ROAD opened at $106.37 on Tuesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The firm has a 50-day moving average of $117.37 and a 200-day moving average of $116.58. The company has a market cap of $6.01 billion, a PE ratio of 46.65, a PEG ratio of 0.92 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.

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

Wall Street Analysts Forecast Growth

ROAD has been the topic of several research reports. Raymond James Financial reiterated a “strong-buy” rating and set a $140.00 price objective on shares of Construction Partners in a report on Monday, April 27th. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. 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 upped their price objective for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. Finally, Robert W. Baird upped their price objective on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.50.

Construction Partners Company 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.