Asset Management One Co. Ltd. Acquires 4,912 Shares of Construction Partners, Inc. $ROAD

Asset Management One Co. Ltd. raised its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,934 shares of the company’s stock after acquiring an additional 4,912 shares during the quarter. Asset Management One Co. Ltd. owned about 0.19% of Construction Partners worth $13,200,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Construction Partners by 81.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,783 shares of the company’s stock valued at $52,798,000 after purchasing an additional 223,457 shares in the last quarter. American Century Companies Inc. increased its position in Construction Partners by 19.9% during the second quarter. American Century Companies Inc. now owns 984,879 shares of the company’s stock worth $104,673,000 after buying an additional 163,334 shares during the last quarter. Zimmer Partners LP bought a new position in Construction Partners during the first quarter valued at about $10,062,000. Franklin Resources Inc. raised its holdings in Construction Partners by 42.4% during the second quarter. Franklin Resources Inc. now owns 468,926 shares of the company’s stock valued at $49,837,000 after buying an additional 139,707 shares in the last quarter. Finally, Jump Financial LLC lifted its position in shares of Construction Partners by 509.3% in the second quarter. Jump Financial LLC now owns 144,697 shares of the company’s stock worth $15,378,000 after buying an additional 120,949 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Performance

ROAD opened at $115.33 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.61 and a debt-to-equity ratio of 1.73. The stock’s 50 day moving average price is $109.19 and its two-hundred day moving average price is $112.97. The firm has a market capitalization of $6.52 billion, a P/E ratio of 63.02, a price-to-earnings-growth ratio of 1.08 and a beta of 0.87. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $138.90.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The business had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The firm’s quarterly revenue was up 67.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. On average, equities analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. DA Davidson reissued a “neutral” rating and set a $120.00 price objective on shares of Construction Partners in a report on Friday, November 21st. Robert W. Baird decreased their target price on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Raymond James Financial reiterated a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.50.

Construction Partners Profile

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.