Envestnet Asset Management Inc. Has $30.56 Million Stock Position in Construction Partners, Inc. $ROAD

Envestnet Asset Management Inc. lowered its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 8.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 287,542 shares of the company’s stock after selling 25,399 shares during the period. Envestnet Asset Management Inc. owned approximately 0.51% of Construction Partners worth $30,560,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ROAD. Montag A & Associates Inc. acquired a new stake in Construction Partners during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its stake in Construction Partners by 2,750.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock worth $30,000 after purchasing an additional 275 shares during the period. Hazlett Burt & Watson Inc. grew its stake in Construction Partners by 88.9% during the second quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company’s stock worth $45,000 after purchasing an additional 200 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Construction Partners during the first quarter worth approximately $60,000. Finally, Nisa Investment Advisors LLC grew its stake in Construction Partners by 29.7% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $79,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ROAD. Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Zacks Research raised Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Wednesday, October 8th. Baird R W raised Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Robert W. Baird set a $122.00 price objective on Construction Partners and gave the company an “outperform” rating in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $125.67.

Construction Partners Stock Up 1.5%

Shares of NASDAQ:ROAD opened at $114.35 on Monday. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 83.47, a PEG ratio of 1.01 and a beta of 1.02. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $138.90. The business’s 50 day moving average is $122.61 and its 200 day moving average is $108.83.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $779.28 million for the quarter, compared to analysts’ expectations of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The firm’s quarterly revenue was up 50.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.