12th Street Asset Management Company LLC Reduces Stock Position in Construction Partners, Inc. $ROAD

12th Street Asset Management Company LLC lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 38.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,174 shares of the company’s stock after selling 23,606 shares during the period. Construction Partners accounts for approximately 0.8% of 12th Street Asset Management Company LLC’s investment portfolio, making the stock its 29th biggest holding. 12th Street Asset Management Company LLC owned approximately 0.07% of Construction Partners worth $4,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ROAD. TD Waterhouse Canada Inc. purchased a new stake in Construction Partners in the 3rd quarter valued at $25,000. AlphaQuest LLC boosted its holdings in Construction Partners by 292.5% during the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Construction Partners by 2,750.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock worth $30,000 after acquiring an additional 275 shares during the period. Mather Group LLC. acquired a new stake in Construction Partners in the third quarter valued at $47,000. Finally, First Horizon Corp purchased a new position in Construction Partners during the 3rd quarter valued at about $49,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Trading Up 0.4%

Shares of NASDAQ:ROAD opened at $134.77 on Friday. The firm has a market capitalization of $7.62 billion, a P/E ratio of 61.26, a price-to-earnings-growth ratio of 1.25 and a beta of 0.87. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $141.90. 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 fifty day moving average of $113.67 and a two-hundred day moving average of $114.91.

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

Analyst Ratings Changes

ROAD has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. B. Riley Financial started 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. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Robert W. Baird set a $142.00 price objective on shares of Construction Partners in a report on Friday, February 6th. Finally, Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. Two investment 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 company. According to MarketBeat, the stock 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.