Westover Capital Advisors LLC Reduces Stock Position in Construction Partners, Inc. $ROAD

Westover Capital Advisors LLC decreased its position in Construction Partners, Inc. (NASDAQ:ROAD) by 82.9% during the third quarter, Holdings Channel.com reports. The fund owned 1,998 shares of the company’s stock after selling 9,655 shares during the quarter. Westover Capital Advisors LLC’s holdings in Construction Partners were worth $254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of Construction Partners by 14.4% during the first quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock worth $743,000 after purchasing an additional 1,302 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Construction Partners by 11.2% during 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 during the last quarter. Intech Investment Management LLC lifted its holdings in Construction Partners by 11.4% in the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock worth $1,746,000 after buying an additional 2,482 shares during the period. Strs Ohio bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $165,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Construction Partners in the 2nd quarter worth approximately $802,000. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $134.77 on Friday. Construction Partners, Inc. has a 12 month low of $64.79 and a 12 month high of $141.90. The firm has a market capitalization of $7.62 billion, a P/E ratio of 61.26, a P/E/G ratio of 1.25 and a beta of 0.87. The company has a current ratio of 1.59, a quick ratio of 1.34 and a debt-to-equity ratio of 1.76. The business has a fifty day simple moving average of $113.67 and a two-hundred day simple moving average of $114.91.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.16. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The company had revenue of $809.47 million during the quarter, compared to analyst estimates of $740.14 million. During the same period last year, the business earned $0.25 EPS. Construction Partners’s quarterly revenue was up 44.1% compared to the same quarter last year. On average, equities analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America decreased their target price on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 21st. Raymond James Financial reissued a “strong-buy” rating and set a $135.00 price objective (up from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. B. Riley Financial initiated coverage on shares of Construction Partners in a report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price objective for the company. DA Davidson lifted their target price on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.80.

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.