Sei Investments Co. Has $27.12 Million Position in Construction Partners, Inc. $ROAD

Sei Investments Co. raised its position in Construction Partners, Inc. (NASDAQ:ROAD) by 26.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,076 shares of the company’s stock after purchasing an additional 51,463 shares during the quarter. Sei Investments Co.’s holdings in Construction Partners were worth $27,122,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Morse Asset Management Inc grew its holdings in shares of Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after purchasing an additional 180 shares during the last quarter. Danske Bank A S acquired a new stake in Construction Partners during the 3rd quarter worth approximately $38,000. Quarry LP acquired a new stake in Construction Partners during the 3rd quarter worth approximately $42,000. Harbor Investment Advisory LLC acquired a new stake in Construction Partners during the 1st quarter worth approximately $39,000. Finally, Hollencrest Capital Management bought a new stake in Construction Partners during the 1st quarter worth approximately $39,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Construction Partners Trading Up 1.7%

ROAD opened at $105.05 on Tuesday. Construction Partners, Inc. has a twelve month low of $93.22 and a twelve month high of $151.00. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75. The company has a fifty day moving average of $111.03 and a 200-day moving average of $117.03. The stock has a market cap of $5.94 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 0.87 and a beta of 0.88.

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

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.