Construction Partners, Inc. $ROAD Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 38.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 810,881 shares of the company’s stock after purchasing an additional 224,575 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.43% of Construction Partners worth $90,948,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROAD. Vaughan Nelson Investment Management L.P. purchased a new stake in Construction Partners in the 4th quarter worth approximately $42,518,000. First Trust Advisors LP increased its holdings in shares of Construction Partners by 33.2% during the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after purchasing an additional 264,069 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Construction Partners by 41.9% in the 3rd quarter. Bank of America Corp DE now owns 757,172 shares of the company’s stock valued at $96,161,000 after purchasing an additional 223,549 shares during the period. Jump Financial LLC boosted its holdings in Construction Partners by 509.3% during 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 in the last quarter. Finally, AGF Management Ltd. purchased a new position in Construction Partners in the third quarter valued at $15,062,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Trading Up 4.9%

ROAD opened at $111.12 on Wednesday. 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 company’s 50 day simple moving average is $121.70 and its two-hundred day simple moving average is $117.21. Construction Partners, Inc. has a 1-year low of $64.79 and a 1-year high of $141.90. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 50.51, a price-to-earnings-growth ratio of 0.94 and a beta of 0.83.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results 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 return on equity of 15.26% and a net margin of 3.99%.The business had revenue of $809.47 million during the quarter, compared to analyst estimates of $740.14 million. During the same period in the prior year, the business earned $0.25 earnings per share. The business’s revenue was up 44.1% compared to the same quarter last year. Analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Robert W. Baird set a $142.00 price target on Construction Partners in a research note on Friday, February 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. B. Riley Financial initiated coverage on shares of Construction Partners in a research report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 target price on the stock. Finally, DA Davidson raised their price target on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Construction Partners currently has an average rating of “Moderate Buy” and an average 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.