Kestra Private Wealth Services LLC Acquires Shares of 6,523 Construction Partners, Inc. $ROAD

Kestra Private Wealth Services LLC purchased a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,523 shares of the company’s stock, valued at approximately $725,000.

Other hedge funds have also bought and sold shares of the company. Morse Asset Management Inc lifted its position in Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after purchasing an additional 180 shares during the period. Danske Bank A S bought a new stake in Construction Partners during the third quarter valued at about $38,000. Quarry LP bought a new position in shares of Construction Partners during the 3rd quarter valued at approximately $42,000. NewEdge Advisors LLC increased its stake in shares of Construction Partners by 161.1% in the second quarter. NewEdge Advisors LLC now owns 564 shares of the company’s stock worth $60,000 after purchasing an additional 348 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Construction Partners in the 4th quarter worth $61,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Down 1.1%

Shares of ROAD stock opened at $107.92 on Friday. Construction Partners, Inc. has a 1-year low of $93.22 and a 1-year high of $151.00. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 47.33, a price-to-earnings-growth ratio of 0.91 and a beta of 0.88. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The stock’s fifty day moving average price is $118.82 and its 200 day moving average price is $118.12.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data 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 net margin of 3.90% and a return on equity of 15.22%. The firm had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. During the same period last year, the firm posted $0.08 EPS. Construction Partners’s revenue was up 34.6% on a year-over-year basis. On average, research analysts expect that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ROAD shares. 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 objective on the stock. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Robert W. Baird cut their price objective on Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $140.00 target price on shares of Construction Partners in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

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.