Charles Schwab Investment Management Inc. Sells 7,373 Shares of Construction Partners, Inc. $ROAD

Charles Schwab Investment Management Inc. decreased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 1.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 455,627 shares of the company’s stock after selling 7,373 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.82% of Construction Partners worth $32,746,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ROAD. Montag A & Associates Inc. purchased a new position in shares of Construction Partners during the 1st quarter valued at $29,000. Versant Capital Management Inc purchased a new position in shares of Construction Partners during the 1st quarter valued at $30,000. Johnson Financial Group Inc. purchased a new position in shares of Construction Partners during the 4th quarter valued at $66,000. Golden State Wealth Management LLC lifted its stake in shares of Construction Partners by 100.0% during the 1st 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 in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of Construction Partners by 9.2% during the 1st quarter. Manchester Capital Management LLC now owns 1,461 shares of the company’s stock valued at $105,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of NASDAQ ROAD opened at $108.53 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The company has a market cap of $6.09 billion, a P/E ratio of 79.22, a P/E/G ratio of 1.38 and a beta of 1.00. The firm’s fifty day moving average is $105.33 and its two-hundred day moving average is $90.79. Construction Partners, Inc. has a 52-week low of $56.52 and a 52-week high of $119.99.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The company had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s revenue was up 50.5% on a year-over-year basis. As a group, analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

ROAD has been the topic of a number of analyst reports. Raymond James Financial restated a “strong-buy” rating on shares of Construction Partners in a research note on Friday, August 8th. Baird R W upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Finally, Robert W. Baird set a $122.00 price target on shares of Construction Partners and gave the company an “outperform” rating in a report on Friday, August 8th.

About Construction Partners

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.