Construction Partners, Inc. $ROAD Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 16.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 208,046 shares of the company’s stock after selling 40,889 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Construction Partners were worth $26,422,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Atria Investments Inc boosted its position in shares of Construction Partners by 5.5% in the 2nd quarter. Atria Investments Inc now owns 16,129 shares of the company’s stock valued at $1,714,000 after purchasing an additional 835 shares during the period. Castleark Management LLC purchased a new position in shares of Construction Partners in the second quarter worth approximately $5,386,000. Vanguard Personalized Indexing Management LLC acquired a new position in Construction Partners in the 2nd quarter worth approximately $542,000. Prudential Financial Inc. grew its position in Construction Partners by 1,174.9% during the 2nd quarter. Prudential Financial Inc. now owns 44,316 shares of the company’s stock worth $4,710,000 after purchasing an additional 40,840 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Construction Partners by 10.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 100,106 shares of the company’s stock valued at $12,713,000 after purchasing an additional 9,435 shares during the period. Institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ROAD. 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 research report on Friday, November 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Raymond James Financial restated 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. Robert W. Baird set a $142.00 target price on Construction Partners in a report on Friday, February 6th. Finally, Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and an average target price of $127.80.

Construction Partners Stock Performance

Shares of ROAD stock opened at $133.93 on Friday. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $141.90. The stock’s 50-day moving average is $114.29 and its two-hundred day moving average is $115.22. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.59 and a quick ratio of 1.34. The firm has a market cap of $7.57 billion, a P/E ratio of 60.88, a PEG ratio of 1.25 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. The business had revenue of $809.47 million during the quarter, compared to analysts’ expectations of $740.14 million. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The firm’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. Analysts predict that Construction Partners, Inc. will post 1.96 earnings per share 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.