Construction Partners, Inc. $ROAD Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,039,928 shares of the company’s stock after buying an additional 55,049 shares during the quarter. American Century Companies Inc. owned 1.85% of Construction Partners worth $132,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Telligent Fund LP acquired a new position in shares of Construction Partners in the third quarter worth $1,016,000. MAI Capital Management boosted its holdings in Construction Partners by 21.7% in the third quarter. MAI Capital Management now owns 505 shares of the company’s stock valued at $64,000 after purchasing an additional 90 shares during the period. Verus Capital Partners LLC acquired a new position in Construction Partners during the 3rd quarter worth $289,000. Ground Swell Capital LLC acquired a new position in Construction Partners during the 3rd quarter worth $452,000. Finally, Advisors Asset Management Inc. increased its holdings in Construction Partners by 20.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,709 shares of the company’s stock worth $10,504,000 after purchasing an additional 14,084 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

ROAD has been the subject of several recent research reports. B. Riley Financial started coverage on Construction Partners in a research note on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price objective for the company. Robert W. Baird set a $142.00 target price on shares of Construction Partners in a report on Friday, February 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Bank of America dropped their price objective 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, DA Davidson raised their price objective on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Construction Partners currently has an average rating of “Moderate Buy” and a consensus target price of $127.80.

Construction Partners Trading Down 0.9%

Shares of Construction Partners stock opened at $134.37 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.26 and a debt-to-equity ratio of 1.76. The company has a fifty day simple moving average of $119.37 and a 200-day simple moving average of $117.37. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 1.20 and a beta of 0.83. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $141.90.

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

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.