Fifth Third Bancorp Buys 16,402 Shares of Construction Partners, Inc. $ROAD

Fifth Third Bancorp raised its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 8.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 218,441 shares of the company’s stock after acquiring an additional 16,402 shares during the period. Fifth Third Bancorp’s holdings in Construction Partners were worth $19,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Maryland State Retirement & Pension System acquired a new position in shares of Construction Partners in the 3rd quarter worth approximately $968,000. Van Berkom & Associates Inc. raised its stake in Construction Partners by 45.5% during the third quarter. Van Berkom & Associates Inc. now owns 606,302 shares of the company’s stock worth $54,585,000 after buying an additional 189,576 shares during the last quarter. Summit Creek Advisors LLC lifted its holdings in Construction Partners by 6.7% in the third quarter. Summit Creek Advisors LLC now owns 74,831 shares of the company’s stock valued at $6,737,000 after buying an additional 4,701 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in Construction Partners by 29.8% in the third quarter. Kornitzer Capital Management Inc. KS now owns 59,756 shares of the company’s stock valued at $5,380,000 after buying an additional 13,730 shares during the period. Finally, Kestra Advisory Services LLC lifted its holdings in Construction Partners by 47.3% in the third quarter. Kestra Advisory Services LLC now owns 5,788 shares of the company’s stock valued at $521,000 after buying an additional 1,858 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROAD. Zacks Research cut shares of Construction Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Robert W. Baird lowered their price objective on Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. B. Riley Financial dropped their price objective on Construction Partners from $135.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, November 9th. Raymond James Financial restated a “strong-buy” rating and set a $125.00 target price on shares of Construction Partners in a research report on Friday, November 6th. Finally, Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.83.

Construction Partners Stock Down 0.3%

Construction Partners stock opened at $80.75 on Friday. The company has a market capitalization of $4.58 billion, a PE ratio of 31.67, a PEG ratio of 0.67 and a beta of 0.94. Construction Partners, Inc. has a 12-month low of $74.51 and a 12-month high of $151.00. The firm’s fifty day moving average is $89.59 and its 200 day moving average is $109.60. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 1.68.

Construction Partners Company Profile

Construction Partners, Inc. is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers. The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.