Jennison Associates LLC Boosts Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Jennison Associates LLC lifted its position in Construction Partners, Inc. (NASDAQ:ROADFree Report) by 0.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 527,907 shares of the company’s stock after purchasing an additional 1,159 shares during the quarter. Jennison Associates LLC owned 1.00% of Construction Partners worth $29,642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moody Aldrich Partners LLC purchased a new position in shares of Construction Partners in the 4th quarter worth about $4,282,000. Dimensional Fund Advisors LP boosted its holdings in shares of Construction Partners by 13.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock worth $38,897,000 after purchasing an additional 105,346 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Construction Partners by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 2,346,238 shares of the company’s stock valued at $102,108,000 after acquiring an additional 55,752 shares during the period. Trexquant Investment LP boosted its holdings in Construction Partners by 55.0% during the 4th quarter. Trexquant Investment LP now owns 76,977 shares of the company’s stock valued at $3,350,000 after acquiring an additional 27,302 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Construction Partners during the 4th quarter valued at about $769,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Sidoti cut Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a report on Thursday, March 28th. Robert W. Baird increased their target price on Construction Partners from $50.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Get Our Latest Research Report on Construction Partners

Construction Partners Trading Down 0.8 %

ROAD opened at $53.41 on Wednesday. The business has a 50 day simple moving average of $55.82 and a two-hundred day simple moving average of $51.23. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 45.65, a PEG ratio of 1.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.64 and a quick ratio of 1.28. Construction Partners, Inc. has a one year low of $27.96 and a one year high of $62.35.

Construction Partners (NASDAQ:ROADGet Free Report) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $371.43 million during the quarter, compared to analyst estimates of $363.12 million. Construction Partners had a return on equity of 12.00% and a net margin of 3.68%. Construction Partners’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) EPS. Analysts predict that Construction Partners, Inc. will post 1.41 EPS for the current year.

Construction Partners Company Profile

(Free Report)

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.

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Institutional Ownership by Quarter for Construction Partners (NASDAQ:ROAD)

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