Advisors Asset Management Inc. Raises Stock Holdings in Construction Partners, Inc. $ROAD

Advisors Asset Management Inc. grew its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 20.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,709 shares of the company’s stock after purchasing an additional 14,084 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.15% of Construction Partners worth $10,504,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in shares of Construction Partners during the third quarter valued at about $25,000. AlphaQuest LLC boosted its holdings in Construction Partners by 292.5% in the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Construction Partners by 2,750.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock worth $30,000 after purchasing an additional 275 shares during the last quarter. MAI Capital Management acquired a new stake in shares of Construction Partners in the second quarter valued at approximately $44,000. Finally, Mather Group LLC. purchased a new position in Construction Partners during the third quarter worth about $47,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ROAD shares. Robert W. Baird set a $142.00 price objective on shares of Construction Partners in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. B. Riley Financial initiated coverage on Construction Partners in a report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price objective on the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $135.00 target price (up from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Finally, DA Davidson increased their price objective on shares of Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.80.

Construction Partners Trading Up 5.1%

ROAD opened at $134.21 on Thursday. The firm has a 50-day moving average price of $113.08 and a two-hundred day moving average price of $114.77. The company has a current ratio of 1.59, a quick ratio of 1.34 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $7.59 billion, a PE ratio of 61.00, a PEG ratio of 1.19 and a beta of 0.87. Construction Partners, Inc. has a 1-year low of $64.79 and a 1-year high of $138.90.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.47 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 the consensus estimate of $740.14 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The firm’s revenue was up 44.1% on a year-over-year basis. As a group, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.