Clearbridge Investments LLC Purchases 199,853 Shares of Construction Partners, Inc. $ROAD

Clearbridge Investments LLC boosted its position in Construction Partners, Inc. (NASDAQ:ROAD) by 30.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 846,103 shares of the company’s stock after purchasing an additional 199,853 shares during the period. Clearbridge Investments LLC’s holdings in Construction Partners were worth $91,844,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Construction Partners by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock worth $126,364,000 after purchasing an additional 4,118 shares in the last quarter. State Street Corp grew its position in Construction Partners by 4.7% in the 2nd quarter. State Street Corp now owns 1,112,231 shares of the company’s stock worth $118,208,000 after purchasing an additional 49,898 shares in the last quarter. First Trust Advisors LP grew its position in Construction Partners by 33.2% in the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after purchasing an additional 264,069 shares in the last quarter. American Century Companies Inc. grew its position in Construction Partners by 5.6% in the 3rd quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock worth $132,071,000 after purchasing an additional 55,049 shares in the last quarter. Finally, Capital World Investors grew its position in Construction Partners by 97.5% in the 4th quarter. Capital World Investors now owns 856,696 shares of the company’s stock worth $92,994,000 after purchasing an additional 423,033 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. 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. Truist Financial assumed coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price on the stock. Robert W. Baird increased their target price on shares of Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $140.00 price target on shares of Construction Partners in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Construction Partners has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Trading Down 3.8%

Shares of NASDAQ ROAD opened at $106.37 on Tuesday. Construction Partners, Inc. has a 1 year low of $93.22 and a 1 year high of $151.00. The stock has a market cap of $6.01 billion, a P/E ratio of 46.65, a price-to-earnings-growth ratio of 0.92 and a beta of 0.88. The firm has a 50-day moving average of $117.37 and a 200 day moving average of $116.58. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. The business had revenue of $769.20 million during 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 was up 34.6% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. As a group, sell-side analysts expect that Construction Partners, Inc. will post 2.95 EPS for the current fiscal year.

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.