First Trust Advisors LP Has $134.57 Million Position in Construction Partners, Inc. $ROAD

First Trust Advisors LP lifted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 33.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,059,566 shares of the company’s stock after purchasing an additional 264,069 shares during the period. First Trust Advisors LP owned 1.89% of Construction Partners worth $134,565,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new position in shares of Construction Partners in the third quarter valued at about $25,000. AlphaQuest LLC grew its holdings in Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. MAI Capital Management acquired a new stake in Construction Partners in the 2nd quarter valued at about $44,000. Mather Group LLC. acquired a new stake in Construction Partners in the 3rd quarter valued at about $47,000. Finally, First Horizon Corp bought a new position in shares of Construction Partners in the third quarter worth about $49,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Down 6.0%

Shares of NASDAQ:ROAD opened at $118.09 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.59 and a quick ratio of 1.26. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 53.68, a P/E/G ratio of 1.05 and a beta of 0.83. The company has a 50 day moving average of $121.19 and a 200-day moving average of $118.05. Construction Partners, Inc. has a one year low of $64.79 and a one year high of $141.90.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $740.14 million. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 44.1% on a year-over-year basis. On average, sell-side analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ROAD. 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. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. DA Davidson upped their price objective on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Robert W. Baird set a $142.00 price objective on Construction Partners in a research report on Friday, February 6th. Finally, Zacks Research raised Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.80.

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.