Legato Capital Management LLC Buys 5,660 Shares of Construction Partners, Inc. $ROAD

Legato Capital Management LLC grew its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 20.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,003 shares of the company’s stock after purchasing an additional 5,660 shares during the period. Legato Capital Management LLC owned about 0.06% of Construction Partners worth $3,582,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MAI Capital Management increased its holdings in Construction Partners by 21.7% during the 3rd quarter. MAI Capital Management now owns 505 shares of the company’s stock worth $64,000 after purchasing an additional 90 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Construction Partners by 3.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,248 shares of the company’s stock worth $666,000 after purchasing an additional 152 shares in the last quarter. AlphaQuest LLC increased its holdings in Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Arizona State Retirement System increased its holdings in Construction Partners by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 13,938 shares of the company’s stock worth $1,770,000 after purchasing an additional 176 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Construction Partners by 13.9% during the 4th quarter. GAMMA Investing LLC now owns 1,467 shares of the company’s stock worth $159,000 after purchasing an additional 179 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Performance

ROAD stock opened at $112.86 on Friday. The firm has a market cap of $6.38 billion, a PE ratio of 49.50, a P/E/G ratio of 0.93 and a beta of 0.92. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75. The business has a 50 day moving average of $117.35 and a 200-day moving average of $116.30. Construction Partners, Inc. has a 12-month low of $93.22 and a 12-month high of $151.00.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. During the same period in the prior year, the company posted $0.08 earnings per share. Construction Partners’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, sell-side analysts expect that Construction Partners, Inc. will post 2.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DA Davidson upped their target price on Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Weiss Ratings raised Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, April 21st. Robert W. Baird upped their target price on Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a report on Monday, May 11th. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $140.00 target price 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, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $137.80.

Construction Partners Company 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.