Construction Partners, Inc. $ROAD Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 28.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,431 shares of the company’s stock after selling 9,506 shares during the quarter. DAVENPORT & Co LLC’s holdings in Construction Partners were worth $2,543,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. MAI Capital Management grew its position in shares of Construction Partners by 21.7% during the third quarter. MAI Capital Management now owns 505 shares of the company’s stock worth $64,000 after acquiring an additional 90 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Construction Partners by 2.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,794 shares of the company’s stock valued at $510,000 after purchasing an additional 118 shares during the last quarter. GAMMA Investing LLC boosted its stake in Construction Partners by 10.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,288 shares of the company’s stock valued at $164,000 after purchasing an additional 124 shares during the period. Byrne Asset Management LLC boosted its stake in Construction Partners by 41.7% during the 3rd quarter. Byrne Asset Management LLC now owns 425 shares of the company’s stock valued at $54,000 after purchasing an additional 125 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Construction Partners by 3.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,248 shares of the company’s stock worth $666,000 after purchasing an additional 152 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Trading Down 0.6%

Shares of NASDAQ:ROAD opened at $109.04 on Friday. The company has a 50 day moving average of $121.83 and a 200-day moving average of $117.49. 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 firm has a market cap of $6.16 billion, a P/E ratio of 49.56, a P/E/G ratio of 0.96 and a beta of 0.83. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $141.90.

Construction Partners (NASDAQ:ROAD) last posted 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. The business had revenue of $809.47 million for the quarter, compared to analyst estimates of $740.14 million. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The business’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share. As a group, analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ROAD shares. Robert W. Baird set a $142.00 price target on shares of Construction Partners in a research note on Friday, February 6th. DA Davidson boosted their price objective on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Zacks Research raised Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Finally, B. Riley Financial initiated coverage on Construction Partners in a research report on Thursday, January 15th. They set a “neutral” rating and a $117.00 price target for the company. 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. Based on data from MarketBeat.com, the stock currently 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.