Westover Capital Advisors LLC Sells 9,655 Shares of Construction Partners, Inc. $ROAD

Westover Capital Advisors LLC decreased its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 82.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,998 shares of the company’s stock after selling 9,655 shares during the period. Westover Capital Advisors LLC’s holdings in Construction Partners were worth $254,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROAD. Advisors Asset Management Inc. grew its position in shares of Construction Partners by 20.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,709 shares of the company’s stock valued at $10,504,000 after acquiring an additional 14,084 shares during the period. AGF Management Ltd. purchased a new position in Construction Partners in the third quarter valued at approximately $15,062,000. Jones Financial Companies Lllp lifted its stake in Construction Partners by 29.8% in the third quarter. Jones Financial Companies Lllp now owns 16,528 shares of the company’s stock valued at $2,115,000 after purchasing an additional 3,791 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Construction Partners by 13.3% during the third quarter. Principal Financial Group Inc. now owns 41,581 shares of the company’s stock valued at $5,281,000 after purchasing an additional 4,885 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its position in Construction Partners by 158.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,100 shares of the company’s stock worth $140,000 after buying an additional 675 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Up 0.4%

Shares of NASDAQ:ROAD opened at $134.77 on Friday. The stock has a market capitalization of $7.62 billion, a P/E ratio of 61.26, a price-to-earnings-growth ratio of 1.25 and a beta of 0.87. The stock’s 50-day moving average price is $113.67 and its 200-day moving average price is $114.91. The company has a current ratio of 1.59, a quick ratio of 1.34 and a debt-to-equity ratio of 1.76. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $141.90.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The company had revenue of $809.47 million during the quarter, compared to analysts’ expectations of $740.14 million. During the same period in the prior year, the business posted $0.25 EPS. Construction Partners’s quarterly revenue was up 44.1% compared to the same quarter last year. On average, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research raised Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. DA Davidson increased their target price on shares of Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. B. Riley Financial assumed coverage on shares of Construction Partners in a research note on Thursday, January 15th. They issued a “neutral” rating and a $117.00 target price for the company. Finally, Bank of America dropped their price target on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.80.

About Construction Partners

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.