Wellington Management Group LLP Purchases Shares of 144,026 Construction Partners, Inc. $ROAD

Wellington Management Group LLP bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the second quarter, Holdings Channel reports. The fund bought 144,026 shares of the company’s stock, valued at approximately $17,106,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneva Capital Management LLC lifted its holdings in shares of Construction Partners by 0.3% during the 4th quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company’s stock valued at $197,684,000 after acquiring an additional 6,163 shares in the last quarter. Invesco Ltd. boosted its stake in Construction Partners by 23.7% during the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock valued at $160,862,000 after acquiring an additional 284,082 shares during the last quarter. Geode Capital Management LLC grew its stake in Construction Partners by 0.4% in the fourth 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 in the last quarter. State Street Corp grew its position in shares of Construction Partners by 4.7% in the 2nd quarter. State Street Corp now owns 1,112,231 shares of the company’s stock worth $118,208,000 after acquiring an additional 49,898 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Construction Partners by 29.6% in the 1st quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock worth $114,496,000 after buying an additional 235,616 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Performance

NASDAQ ROAD opened at $104.68 on Monday. Construction Partners, Inc. has a 1-year low of $93.42 and a 1-year high of $151.00. The firm’s fifty day simple moving average is $107.92 and its 200-day simple moving average is $115.49. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $5.94 billion, a PE ratio of 41.05, a price-to-earnings-growth ratio of 0.98 and a beta of 0.90.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, August 7th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. The firm had revenue of $999.42 million for the quarter, compared to the consensus estimate of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The firm’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 3.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ROAD has been the subject of a number of analyst reports. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Raymond James Financial lowered their target price on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 15th. Robert W. Baird decreased their price target on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Finally, Truist Financial began coverage on Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

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.