Bank of New York Mellon Corp Acquires 431 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Bank of New York Mellon Corp boosted its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 273,326 shares of the company’s stock after buying an additional 431 shares during the quarter. Bank of New York Mellon Corp owned 0.49% of Construction Partners worth $19,644,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ROAD. Versant Capital Management Inc purchased a new stake in shares of Construction Partners during the 1st quarter valued at about $30,000. Johnson Financial Group Inc. bought a new stake in Construction Partners during the fourth quarter valued at approximately $66,000. Golden State Wealth Management LLC increased its holdings in Construction Partners by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company’s stock valued at $81,000 after buying an additional 563 shares during the last quarter. Amalgamated Bank raised its position in Construction Partners by 8.8% in the first quarter. Amalgamated Bank now owns 1,593 shares of the company’s stock worth $114,000 after acquiring an additional 129 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in Construction Partners in the fourth quarter worth approximately $146,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Down 4.6%

ROAD stock opened at $107.57 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.42 and a quick ratio of 1.13. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $114.74. The business has a 50 day simple moving average of $104.65 and a two-hundred day simple moving average of $88.16. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 91.94, a PEG ratio of 1.41 and a beta of 0.96.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.12. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The company had revenue of $571.65 million during the quarter, compared to analysts’ expectations of $559.61 million. During the same period last year, the company posted ($0.02) earnings per share. Construction Partners’s quarterly revenue was up 53.9% on a year-over-year basis. Research analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Raymond James Financial cut their price objective on shares of Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 29th.

Construction Partners Company Profile

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.