Construction Partners, Inc. $ROAD Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 3.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 579,757 shares of the company’s stock after buying an additional 17,851 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.03% of Construction Partners worth $64,423,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. NFSG Corp raised its holdings in shares of Construction Partners by 8.7% in the first quarter. NFSG Corp now owns 1,251 shares of the company’s stock worth $139,000 after acquiring an additional 100 shares during the last quarter. &PARTNERS boosted its stake in shares of Construction Partners by 2.5% during the fourth quarter. &PARTNERS now owns 6,899 shares of the company’s stock valued at $749,000 after acquiring an additional 167 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Construction Partners by 13.9% during the fourth quarter. GAMMA Investing LLC now owns 1,467 shares of the company’s stock valued at $159,000 after acquiring an additional 179 shares during the last quarter. Morse Asset Management Inc increased its position in Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after purchasing an additional 180 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in Construction Partners by 6.8% during the 4th quarter. Sanctuary Advisors LLC now owns 3,604 shares of the company’s stock worth $391,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Truist Financial assumed coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price on the stock. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Robert W. Baird reduced their price objective on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Raymond James Financial reduced their price objective on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 15th. Finally, Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Construction Partners currently has an average rating of “Moderate Buy” and an average target price of $134.17.

Construction Partners Stock Performance

NASDAQ ROAD opened at $104.24 on Thursday. The business’s 50-day moving average price is $111.94 and its 200 day moving average price is $117.24. Construction Partners, Inc. has a twelve month low of $93.22 and a twelve month high of $151.00. The company has a market capitalization of $5.89 billion, a PE ratio of 45.72, a price-to-earnings-growth ratio of 0.87 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS 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 company had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter in the previous year, the business earned $0.08 EPS. The firm’s revenue was up 34.6% on a year-over-year basis. On average, research analysts predict that Construction Partners, Inc. will post 2.91 earnings per share for the current year.

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.