Jennison Associates LLC Has $22.92 Million Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Jennison Associates LLC cut its position in Construction Partners, Inc. (NASDAQ:ROAD) by 17.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 526,748 shares of the company’s stock after selling 108,106 shares during the period. Jennison Associates LLC’s holdings in Construction Partners were worth $22,924,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ROAD. DAVENPORT & Co LLC lifted its position in Construction Partners by 2.3% in the 3rd quarter. DAVENPORT & Co LLC now owns 42,323 shares of the company’s stock valued at $1,547,000 after acquiring an additional 967 shares in the last quarter. Simplicity Solutions LLC lifted its position in Construction Partners by 97.9% in the 3rd quarter. Simplicity Solutions LLC now owns 16,024 shares of the company’s stock valued at $586,000 after acquiring an additional 7,925 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Construction Partners by 17.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,394 shares of the company’s stock valued at $453,000 after acquiring an additional 1,813 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Construction Partners by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 572,337 shares of the company’s stock valued at $20,925,000 after acquiring an additional 48,124 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in Construction Partners in the 3rd quarter valued at $203,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Robert W. Baird cut shares of Construction Partners from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $46.00 to $50.00 in a research report on Monday, February 12th. Stifel Nicolaus boosted their price objective on shares of Construction Partners from $51.00 to $57.00 and gave the company 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 target on the stock. in a research report on Thursday, March 28th. Two research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Construction Partners Trading Up 0.8 %

Shares of NASDAQ:ROAD opened at $51.38 on Friday. The company’s 50-day moving average price is $52.07 and its two-hundred day moving average price is $45.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39. Construction Partners, Inc. has a one year low of $24.20 and a one year high of $58.65. The stock has a market capitalization of $2.71 billion, a PE ratio of 47.57, a price-to-earnings-growth ratio of 1.32 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.19 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 firm had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $393.62 million. During the same period in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Construction Partners, Inc. will post 1.34 EPS for the current fiscal year.

Construction Partners Company Profile

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.