Hsbc Holdings PLC Grows Stock Holdings in Construction Partners, Inc. $ROAD

Hsbc Holdings PLC lifted its position in Construction Partners, Inc. (NASDAQ:ROAD) by 191.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,344 shares of the company’s stock after purchasing an additional 10,741 shares during the quarter. Hsbc Holdings PLC’s holdings in Construction Partners were worth $1,787,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ROAD. Rockefeller Capital Management L.P. raised its holdings in shares of Construction Partners by 4.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,518 shares of the company’s stock valued at $816,000 after buying an additional 352 shares in the last quarter. Invesco Ltd. boosted its stake in Construction Partners by 23.7% in the fourth quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock worth $160,862,000 after buying an additional 284,082 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Construction Partners by 16.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,092 shares of the company’s stock worth $336,000 after buying an additional 437 shares in the last quarter. Zimmer Partners LP bought a new position in Construction Partners during the fourth quarter valued at approximately $13,026,000. Finally, SummitTX Capital L.P. bought a new position in Construction Partners during the fourth quarter valued at approximately $7,084,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Trading Down 0.6%

ROAD stock traded down $0.61 on Friday, reaching $94.89. The company’s stock had a trading volume of 1,111,836 shares, compared to its average volume of 673,602. The business has a fifty day simple moving average of $116.74 and a two-hundred day simple moving average of $117.73. Construction Partners, Inc. has a 12-month low of $93.22 and a 12-month high of $151.00. The firm has a market cap of $5.36 billion, a PE ratio of 41.62, a PEG ratio of 0.79 and a beta of 0.88. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The business 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 firm earned $0.08 EPS. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. As a group, research analysts forecast that Construction Partners, Inc. will post 2.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ROAD shares. Robert W. Baird lowered their price objective on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Truist Financial began coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target on the stock. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Raymond James Financial reiterated a “strong-buy” rating and set a $140.00 target price on shares of Construction Partners in a report on Monday, April 27th. Finally, B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and raised their target price for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.50.

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.