Construction Partners, Inc. (NASDAQ:ROAD) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,749 shares of the company’s stock after purchasing an additional 2,647 shares during the quarter. Advisors Asset Management Inc.’s holdings in Construction Partners were worth $5,287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Construction Partners during the 1st quarter valued at about $139,000. ProShare Advisors LLC boosted its holdings in shares of Construction Partners by 15.8% during the 1st quarter. ProShare Advisors LLC now owns 7,709 shares of the company’s stock worth $433,000 after purchasing an additional 1,054 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Construction Partners by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock worth $135,628,000 after purchasing an additional 69,223 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Construction Partners by 17,700.0% during the 1st quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after purchasing an additional 531 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Construction Partners by 7.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,279 shares of the company’s stock worth $240,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. DA Davidson upped their price objective on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Stifel Nicolaus upped their price objective on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Raymond James upped their price objective on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Construction Partners has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Construction Partners Stock Up 6.1 %

Shares of NASDAQ ROAD opened at $96.85 on Friday. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 71.74, a PEG ratio of 1.16 and a beta of 0.65. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $100.47. The business’s 50 day moving average is $78.38 and its two-hundred day moving average is $65.26.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. Research analysts predict that Construction Partners, Inc. will post 1.33 EPS for the current year.

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.