Construction Partners, Inc. $ROAD Stock: Sterling Capital Management LLC Lowers Stake

Sterling Capital Management LLC cut its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 79.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,597 shares of the company’s stock after selling 6,367 shares during the period. Sterling Capital Management LLC’s holdings in Construction Partners were worth $144,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ROAD. Wasatch Advisors LP boosted its holdings in shares of Construction Partners by 20.6% during the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock valued at $119,776,000 after acquiring an additional 172,034 shares during the period. First Trust Advisors LP increased its holdings in shares of Construction Partners by 29.6% in the 1st quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock worth $114,496,000 after acquiring an additional 235,616 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Construction Partners by 19.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock worth $109,214,000 after acquiring an additional 156,469 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Construction Partners in the 2nd quarter worth about $78,248,000. Finally, Dimensional Fund Advisors LP lifted its position in Construction Partners by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 587,477 shares of the company’s stock valued at $65,271,000 after purchasing an additional 58,908 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROAD has been the subject of a number of analyst reports. Raymond James Financial reduced their target price on shares of Construction Partners from $150.00 to $145.00 and set a “strong-buy” rating for the company in a research note on Friday, October 16th. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Robert W. Baird cut their price target on Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.67.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $89.80 on Monday. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 0.67 and a beta of 0.94. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.26 and a current ratio of 1.57. Construction Partners, Inc. has a 1 year low of $79.33 and a 1 year high of $151.00. The business has a fifty day moving average of $94.01 and a 200-day moving average of $110.93.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, August 7th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. The firm had revenue of $999.42 million during the quarter, compared to the consensus estimate of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share. Equities analysts predict that Construction Partners, Inc. will post 3.04 earnings per share for the current year.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ:ROAD) is a civil infrastructure company that builds and maintains transportation and other public infrastructure in the United States. The company primarily serves public-sector customers, including state and local governments, as well as private-sector customers involved in residential, commercial and industrial development.

Its services include asphalt production and paving, roadway construction, milling, maintenance and repair, site development, utility installation and related infrastructure work.