Bank of New York Mellon Corp Increases Stock Position in Construction Partners, Inc. $ROAD

Bank of New York Mellon Corp lifted its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 579,757 shares of the company’s stock after buying an additional 17,851 shares during the period. Bank of New York Mellon Corp’s holdings in Construction Partners were worth $64,423,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ROAD. NFSG Corp boosted its holdings in Construction Partners by 8.7% in the first quarter. NFSG Corp now owns 1,251 shares of the company’s stock valued at $139,000 after acquiring an additional 100 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Construction Partners by 3,714.3% during the first quarter. Hillsdale Investment Management Inc. now owns 2,670 shares of the company’s stock worth $297,000 after acquiring an additional 2,600 shares during the last quarter. Carnegie Investment Counsel raised its holdings in shares of Construction Partners by 20.9% in the 1st quarter. Carnegie Investment Counsel now owns 2,662 shares of the company’s stock worth $296,000 after purchasing an additional 461 shares during the period. Fifth Third Bancorp raised its holdings in shares of Construction Partners by 30,525.8% in the 1st quarter. Fifth Third Bancorp now owns 239,800 shares of the company’s stock worth $26,647,000 after purchasing an additional 239,017 shares during the period. Finally, Kestra Advisory Services LLC lifted its stake in shares of Construction Partners by 66.6% in the 1st quarter. Kestra Advisory Services LLC now owns 3,630 shares of the company’s stock valued at $403,000 after purchasing an additional 1,451 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ROAD. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and boosted their target price 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 report on Thursday, July 16th. Raymond James Financial decreased their price objective on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Robert W. Baird cut their target price on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. One equities 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. Based on data from MarketBeat.com, Construction Partners has a consensus rating of “Moderate Buy” and a consensus target price of $134.17.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $104.24 on Thursday. Construction Partners, Inc. has a 1-year low of $93.22 and a 1-year high of $151.00. The business has a 50-day moving average of $111.94 and a 200-day moving average of $117.24. 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 company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 45.72, a PEG ratio of 0.87 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, May 8th. The company reported $0.18 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 the consensus estimate of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company’s revenue was up 34.6% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. On average, equities analysts anticipate that Construction Partners, Inc. will post 2.91 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.