Advisors Asset Management Inc. Boosts Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Advisors Asset Management Inc. raised its position in Construction Partners, Inc. (NASDAQ:ROAD) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,192 shares of the company’s stock after purchasing an additional 4,542 shares during the quarter. Advisors Asset Management Inc. owned 0.13% of Construction Partners worth $3,941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its position in shares of Construction Partners by 7.1% during the first quarter. Ameritas Investment Partners Inc. now owns 4,279 shares of the company’s stock worth $240,000 after acquiring an additional 285 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Construction Partners by 4.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 7,023 shares of the company’s stock worth $394,000 after acquiring an additional 292 shares during the period. Arizona State Retirement System increased its position in shares of Construction Partners by 3.7% during the fourth quarter. Arizona State Retirement System now owns 12,225 shares of the company’s stock worth $532,000 after acquiring an additional 439 shares during the period. Covestor Ltd boosted its stake in shares of Construction Partners by 17,700.0% during the first quarter. Covestor Ltd now owns 534 shares of the company’s stock valued at $30,000 after purchasing an additional 531 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in shares of Construction Partners during the fourth quarter valued at approximately $30,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

Shares of Construction Partners stock traded up $3.62 during trading on Friday, hitting $62.75. 294,614 shares of the company’s stock were exchanged, compared to its average volume of 354,363. The business has a 50-day simple moving average of $57.04 and a 200-day simple moving average of $52.44. Construction Partners, Inc. has a 52-week low of $28.16 and a 52-week high of $63.97. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.43 and a beta of 0.66. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.28 and a current ratio of 1.64.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, May 10th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $371.43 million for the quarter, compared to analyst estimates of $363.12 million. Construction Partners had a net margin of 3.68% and a return on equity of 12.00%. Construction Partners’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. On average, research analysts forecast that Construction Partners, Inc. will post 1.4 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ROAD. Sidoti downgraded shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a research note on Thursday, March 28th. Robert W. Baird increased their price objective on shares of Construction Partners from $50.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Construction Partners currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.