Assenagon Asset Management S.A. Takes Position in Construction Partners, Inc. (NASDAQ:ROAD)

4 months ago
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Assenagon Asset Management S.A. purchased a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,670 shares of the company’s stock, valued at approximately $769,000.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Construction Partners by 4.8% during the second quarter. BlackRock Inc. now owns 3,075,247 shares of the company’s stock valued at $96,532,000 after purchasing an additional 140,572 shares during the period. Vanguard Group Inc. increased its holdings in shares of Construction Partners by 8.6% during the third quarter. Vanguard Group Inc. now owns 2,290,486 shares of the company’s stock valued at $83,740,000 after purchasing an additional 181,017 shares during the period. Invesco Ltd. increased its holdings in shares of Construction Partners by 2.6% during the third quarter. Invesco Ltd. now owns 2,225,619 shares of the company’s stock valued at $81,369,000 after purchasing an additional 56,595 shares during the period. American Century Companies Inc. increased its holdings in shares of Construction Partners by 15.0% during the third quarter. American Century Companies Inc. now owns 1,316,081 shares of the company’s stock valued at $48,116,000 after purchasing an additional 172,109 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Construction Partners by 2.0% during the first quarter. Bank of America Corp DE now owns 872,702 shares of the company’s stock valued at $23,511,000 after purchasing an additional 16,946 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

ROAD has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their target price on Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Sidoti lowered Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price on the stock. in a report on Thursday, March 28th. Finally, Robert W. Baird lowered Construction Partners from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $46.00 to $50.00 in a report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Get Our Latest Stock Analysis on Construction Partners

NASDAQ:ROAD opened at $57.47 on Friday. The business’s 50-day moving average price is $50.36 and its 200 day moving average price is $44.15. The firm has a market cap of $3.03 billion, a P/E ratio of 53.21, a PEG ratio of 1.45 and a beta of 0.65. Construction Partners, Inc. has a 52-week low of $24.20 and a 52-week high of $58.65. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD – Get Free Report) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. Construction Partners’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. As a group, sell-side analysts predict that Construction Partners, Inc. will post 1.35 earnings per share for the current fiscal year.

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.
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Want to see what other hedge funds are holding ROAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Construction Partners, Inc. (NASDAQ:ROAD – Free Report).

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