Corient Private Wealth LLC Has $3.90 Million Stock Position in Construction Partners, Inc. $ROAD

Corient Private Wealth LLC lowered its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 16.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 35,899 shares of the company’s stock after selling 7,140 shares during the period. Corient Private Wealth LLC’s holdings in Construction Partners were worth $3,897,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ROAD. Geneva Capital Management LLC grew its stake in shares of Construction Partners by 0.3% in the fourth quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company’s stock worth $197,684,000 after purchasing an additional 6,163 shares during the last quarter. Invesco Ltd. raised its position in Construction Partners by 23.7% during the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock worth $160,862,000 after purchasing an additional 284,082 shares during the last quarter. Geode Capital Management LLC raised its position in Construction Partners by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock worth $126,364,000 after purchasing an additional 4,118 shares during the last quarter. State Street Corp lifted its holdings in Construction Partners by 4.7% during the 2nd quarter. State Street Corp now owns 1,112,231 shares of the company’s stock worth $118,208,000 after buying an additional 49,898 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Construction Partners by 33.2% during the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after buying an additional 264,069 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Down 2.3%

Shares of NASDAQ:ROAD opened at $122.87 on Friday. The business’s 50 day moving average is $119.47 and its 200 day moving average is $117.85. Construction Partners, Inc. has a 12-month low of $93.22 and a 12-month high of $151.00. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 53.89, a PEG ratio of 1.05 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 data on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, beating 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 business had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. During the same period last year, the business earned $0.08 EPS. The business’s revenue was up 34.6% on a year-over-year basis. On average, sell-side analysts forecast that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ROAD has been the subject of several recent research reports. Robert W. Baird increased their price target on Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Truist Financial initiated coverage on Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective on the stock. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. 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. According to MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Company 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.