Federated Hermes Inc. Sells 16,085 Shares of Construction Partners, Inc. $ROAD

Federated Hermes Inc. lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,378 shares of the company’s stock after selling 16,085 shares during the quarter. Federated Hermes Inc.’s holdings in Construction Partners were worth $10,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. boosted its stake in Construction Partners by 4.2% during the second quarter. Invesco Ltd. now owns 1,308,761 shares of the company’s stock worth $139,095,000 after acquiring an additional 52,670 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Construction Partners by 1.6% in the second quarter. Geode Capital Management LLC now owns 1,153,123 shares of the company’s stock worth $122,568,000 after purchasing an additional 18,229 shares during the period. State Street Corp increased its stake in shares of Construction Partners by 4.7% in the second 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. American Century Companies Inc. boosted its holdings in Construction Partners by 19.9% in the 2nd quarter. American Century Companies Inc. now owns 984,879 shares of the company’s stock worth $104,673,000 after buying an additional 163,334 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Construction Partners by 6.2% in the second quarter. Ameriprise Financial Inc. now owns 842,535 shares of the company’s stock valued at $89,545,000 after acquiring an additional 49,542 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America cut their target price on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. DA Davidson reaffirmed a “neutral” rating and issued a $120.00 price target on shares of Construction Partners in a research note on Friday, November 21st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 target price (up from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Zacks Research upgraded shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday. Finally, B. Riley started coverage on Construction Partners in a research note on Thursday, January 15th. They set a “neutral” rating and a $117.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Construction Partners presently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Construction Partners Stock Down 2.6%

Shares of ROAD opened at $109.88 on Monday. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 60.04, a PEG ratio of 1.04 and a beta of 0.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61. Construction Partners, Inc. has a one year low of $64.79 and a one year high of $138.90. The stock has a 50 day moving average price of $110.35 and a 200 day moving average price of $113.85.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Thursday, November 20th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). Construction Partners had a net margin of 3.62% and a return on equity of 14.42%. The firm had revenue of $899.85 million during the quarter, compared to analyst estimates of $896.17 million. During the same period last year, the firm earned $0.56 EPS. Construction Partners’s quarterly revenue was up 67.2% on a year-over-year basis. Equities research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal 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.