Envestnet Asset Management Inc. Sells 39,261 Shares of Construction Partners, Inc. $ROAD

Envestnet Asset Management Inc. trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 13.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,281 shares of the company’s stock after selling 39,261 shares during the quarter. Envestnet Asset Management Inc. owned 0.44% of Construction Partners worth $31,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ROAD. TD Waterhouse Canada Inc. purchased a new position in shares of Construction Partners during the 3rd quarter worth about $25,000. AlphaQuest LLC lifted its stake in Construction Partners by 292.5% in the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 valued at $30,000 after buying an additional 275 shares during the period. Mather Group LLC. bought a new position in shares of Construction Partners during the third quarter valued at approximately $47,000. Finally, First Horizon Corp purchased a new stake in shares of Construction Partners in the third quarter worth approximately $49,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Up 5.1%

Construction Partners stock opened at $134.21 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.59 and a debt-to-equity ratio of 1.76. The firm has a market cap of $7.59 billion, a P/E ratio of 61.00, a P/E/G ratio of 1.19 and a beta of 0.87. The business has a fifty day moving average of $113.08 and a two-hundred day moving average of $114.77. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $138.90.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The firm had revenue of $809.47 million during the quarter, compared to analysts’ expectations of $740.14 million. During the same period in the prior year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 44.1% on a year-over-year basis. On average, analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ROAD shares. Robert W. Baird set a $142.00 price objective on Construction Partners in a research report on Friday, February 6th. B. Riley Financial began coverage on shares of Construction Partners in a report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price target on the stock. Zacks Research upgraded shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Bank of America reduced their target price on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Two 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.80.

Construction Partners Company 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.