Russell Investments Group Ltd. Has $7.11 Million Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Russell Investments Group Ltd. reduced its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 19.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,471 shares of the company’s stock after selling 39,165 shares during the period. Russell Investments Group Ltd. owned about 0.31% of Construction Partners worth $7,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ROAD. Truist Financial Corp lifted its stake in shares of Construction Partners by 8.1% in the 4th quarter. Truist Financial Corp now owns 69,495 shares of the company’s stock valued at $3,024,000 after acquiring an additional 5,202 shares during the last quarter. Semanteon Capital Management LP acquired a new position in shares of Construction Partners in the fourth quarter valued at approximately $1,147,000. Cornerstone Investment Partners LLC bought a new position in Construction Partners in the 4th quarter valued at approximately $209,000. Federated Hermes Inc. acquired a new stake in Construction Partners during the 4th quarter worth approximately $150,000. Finally, Strs Ohio acquired a new position in Construction Partners in the 4th quarter valued at approximately $539,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Price Performance

Construction Partners stock opened at $53.78 on Wednesday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 49.80, a PEG ratio of 1.33 and a beta of 0.68. Construction Partners, Inc. has a 52-week low of $27.22 and a 52-week high of $58.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75. The stock’s 50 day moving average price is $53.05 and its two-hundred day moving average price is $46.54.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. During the same period in the prior year, the firm earned $0.04 earnings per share. Construction Partners’s revenue was up 16.0% on a year-over-year basis. On average, equities analysts predict that Construction Partners, Inc. will post 1.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird lowered Construction Partners from an “outperform” rating to a “neutral” rating and upped their price target for the company from $46.00 to $50.00 in a research report on Monday, February 12th. Stifel Nicolaus boosted their price target on shares of Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Sidoti cut shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

About Construction Partners

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.