Construction Partners, Inc. $ROAD Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 79.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,597 shares of the company’s stock after selling 6,367 shares during the period. Sterling Capital Management LLC’s holdings in Construction Partners were worth $144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wasatch Advisors LP increased its position in Construction Partners by 20.6% during the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock worth $119,776,000 after buying an additional 172,034 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Construction Partners by 29.6% in the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock worth $114,496,000 after buying an additional 235,616 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Construction Partners by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock worth $109,214,000 after buying an additional 156,469 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Construction Partners during the 2nd quarter worth about $78,248,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Construction Partners by 11.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 587,477 shares of the company’s stock worth $65,271,000 after acquiring an additional 58,908 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ROAD. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Robert W. Baird decreased their target price on Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Raymond James Financial lowered their price target on Construction Partners from $150.00 to $145.00 and set a “strong-buy” rating on the stock in a report on Friday, October 16th. Finally, Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.67.

Construction Partners Price Performance

NASDAQ:ROAD opened at $89.80 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.57 and a quick ratio of 1.26. Construction Partners, Inc. has a one year low of $79.33 and a one year high of $151.00. The company has a fifty day moving average price of $94.01 and a 200 day moving average price of $110.93. The stock has a market cap of $5.10 billion, a P/E ratio of 35.22, a PEG ratio of 0.67 and a beta of 0.94.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.07. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The company had revenue of $999.42 million for the quarter, compared to analyst estimates of $948.77 million. During the same period last year, the business posted $0.81 EPS. The business’s quarterly revenue was up 28.2% on a year-over-year basis. Analysts anticipate that Construction Partners, Inc. will post 3.04 earnings per share for the current year.

Construction Partners Profile

Construction Partners, Inc (NASDAQ:ROAD) is a civil infrastructure company that builds and maintains transportation and other public infrastructure in the United States. The company primarily serves public-sector customers, including state and local governments, as well as private-sector customers involved in residential, commercial and industrial development.

Its services include asphalt production and paving, roadway construction, milling, maintenance and repair, site development, utility installation and related infrastructure work.