Corient Private Wealth LLC Has $3.90 Million Holdings in Construction Partners, Inc. $ROAD

Corient Private Wealth LLC decreased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,899 shares of the company’s stock after selling 7,140 shares during the period. Corient Private Wealth LLC owned approximately 0.06% of Construction Partners worth $3,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ROAD. Geneva Capital Management LLC raised its position 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 valued at $197,684,000 after buying an additional 6,163 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Construction Partners by 23.7% in the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock valued at $160,862,000 after acquiring an additional 284,082 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Construction Partners by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock valued at $126,364,000 after acquiring an additional 4,118 shares in the last quarter. State Street Corp increased its position in shares of Construction Partners by 4.7% in the second quarter. State Street Corp now owns 1,112,231 shares of the company’s stock valued at $118,208,000 after acquiring an additional 49,898 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Construction Partners by 33.2% in the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after acquiring an additional 264,069 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Performance

NASDAQ ROAD opened at $122.87 on Friday. The firm’s 50 day simple moving average is $119.47 and its 200 day simple moving average is $117.85. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 53.89, a P/E/G ratio of 1.05 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75. Construction Partners, Inc. has a 1 year low of $93.22 and a 1 year high of $151.00.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $678.46 million. During the same period last year, the firm posted $0.08 earnings per share. Construction Partners’s revenue was up 34.6% compared to the same quarter last year. As a group, research analysts expect that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ROAD has been the subject of several recent research reports. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Robert W. Baird increased their price objective on Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Truist Financial began coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price on the stock. One 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 stock. According to MarketBeat, Construction Partners has an average rating of “Moderate Buy” and an average target price of $136.50.

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.