First Trust Advisors LP Has $114.50 Million Stake in Construction Partners, Inc. $ROAD

First Trust Advisors LP boosted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 29.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,030,378 shares of the company’s stock after purchasing an additional 235,616 shares during the period. First Trust Advisors LP’s holdings in Construction Partners were worth $114,496,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROAD. NFSG Corp raised its position in Construction Partners by 8.7% during the first quarter. NFSG Corp now owns 1,251 shares of the company’s stock valued at $139,000 after acquiring an additional 100 shares in the last quarter. ANB Bank grew its position in Construction Partners by 3.4% in the first quarter. ANB Bank now owns 4,258 shares of the company’s stock worth $473,000 after acquiring an additional 140 shares in the last quarter. &PARTNERS increased its stake in shares of Construction Partners by 2.5% during the 4th quarter. &PARTNERS now owns 6,899 shares of the company’s stock worth $749,000 after purchasing an additional 167 shares during the last quarter. GAMMA Investing LLC increased its position in Construction Partners by 13.9% during the fourth quarter. GAMMA Investing LLC now owns 1,467 shares of the company’s stock worth $159,000 after buying an additional 179 shares during the last quarter. Finally, Morse Asset Management Inc increased its position in Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after buying an additional 180 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on ROAD shares. Truist Financial initiated coverage on Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target for the company. Raymond James Financial cut their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 15th. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, Robert W. Baird lowered their price target on Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.17.

Construction Partners Price Performance

Shares of NASDAQ:ROAD opened at $104.04 on Friday. The business has a 50 day moving average price of $111.52 and a 200 day moving average price of $117.18. Construction Partners, Inc. has a twelve month low of $93.22 and a twelve month high of $151.00. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 0.88 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company had revenue of $769.20 million for the quarter, compared to the consensus estimate of $678.46 million. During the same period in the previous year, the business posted $0.08 EPS. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. Research analysts predict that Construction Partners, Inc. will post 2.91 earnings per share for the current 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.