Construction Partners, Inc. $ROAD Shares Purchased by CI Investments Inc.

CI Investments Inc. raised its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,778 shares of the company’s stock after purchasing an additional 8,845 shares during the quarter. CI Investments Inc. owned about 0.27% of Construction Partners worth $16,977,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Construction Partners by 14.4% in the first quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock valued at $743,000 after acquiring an additional 1,302 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Construction Partners by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company’s stock valued at $6,913,000 after purchasing an additional 9,656 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Construction Partners by 11.4% during the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock worth $1,746,000 after purchasing an additional 2,482 shares during the period. Strs Ohio purchased a new stake in shares of Construction Partners during the 1st quarter worth about $165,000. Finally, Hsbc Holdings PLC acquired a new stake in Construction Partners during the 2nd quarter worth approximately $552,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Raymond James Financial reduced their target price on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 15th. Finally, Truist Financial began coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.17.

Construction Partners Trading Up 1.0%

NASDAQ:ROAD opened at $104.24 on Thursday. The company has a market cap of $5.89 billion, a PE ratio of 45.72, a P/E/G ratio of 0.87 and a beta of 0.88. The business’s 50 day moving average is $111.94 and its two-hundred day moving average is $117.24. 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, Inc. has a 52 week low of $93.22 and a 52 week high of $151.00.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The company had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. During the same period in the prior year, the company earned $0.08 earnings per share. The firm’s revenue was up 34.6% compared to the same quarter last year. On average, analysts predict that Construction Partners, Inc. will post 2.91 EPS for the current year.

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.