Principal Financial Group Inc. Has $5.28 Million Position in Construction Partners, Inc. $ROAD

Principal Financial Group Inc. grew its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,581 shares of the company’s stock after acquiring an additional 4,885 shares during the period. Principal Financial Group Inc.’s holdings in Construction Partners were worth $5,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ROAD. Handelsbanken Fonder AB increased its position in Construction Partners by 0.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 12,000 shares of the company’s stock worth $1,275,000 after purchasing an additional 100 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Construction Partners by 2.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,794 shares of the company’s stock valued at $510,000 after buying an additional 118 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Construction Partners by 10.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,288 shares of the company’s stock valued at $164,000 after buying an additional 124 shares in the last quarter. Byrne Asset Management LLC increased its holdings in Construction Partners by 41.7% in the third quarter. Byrne Asset Management LLC now owns 425 shares of the company’s stock worth $54,000 after buying an additional 125 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in Construction Partners by 3.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 5,248 shares of the company’s stock valued at $666,000 after acquiring an additional 152 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Down 0.6%

ROAD stock opened at $133.93 on Friday. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 60.88, a price-to-earnings-growth ratio of 1.25 and a beta of 0.87. The company has a 50-day moving average of $114.29 and a two-hundred day moving average of $115.22. Construction Partners, Inc. has a 52-week low of $64.79 and a 52-week high of $141.90. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.59 and a quick ratio of 1.34.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, topping 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 business had revenue of $809.47 million during the quarter, compared to analysts’ expectations of $740.14 million. During the same quarter in the previous year, the firm earned $0.25 EPS. The firm’s revenue was up 44.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 29th. B. Riley Financial initiated coverage on shares of Construction Partners in a report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and set a $135.00 target price (up from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Finally, Robert W. Baird set a $142.00 price objective on Construction Partners in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.80.

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.