Principal Financial Group Inc. Has $383,000 Stock Position in Construction Partners, Inc. $ROAD

Principal Financial Group Inc. reduced its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 94.4% during the 1st quarter, Holdings Channel reports. The fund owned 3,450 shares of the company’s stock after selling 58,142 shares during the period. Principal Financial Group Inc.’s holdings in Construction Partners were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Capital World Investors grew its position in shares of Construction Partners by 97.5% in the fourth quarter. Capital World Investors now owns 856,696 shares of the company’s stock valued at $92,994,000 after purchasing an additional 423,033 shares during the last quarter. Invesco Ltd. lifted its holdings in Construction Partners by 23.7% during the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock worth $160,862,000 after purchasing an additional 284,082 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Construction Partners by 30,525.8% during 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 last quarter. Goldman Sachs Group Inc. boosted its stake in Construction Partners by 176.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 361,837 shares of the company’s stock valued at $39,277,000 after purchasing an additional 231,160 shares during the period. Finally, Wasatch Advisors LP grew its holdings in Construction Partners by 37.8% in the 1st quarter. Wasatch Advisors LP now owns 836,440 shares of the company’s stock valued at $92,945,000 after buying an additional 229,402 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Shares of Construction Partners stock opened at $103.35 on Friday. The firm has a market capitalization of $5.84 billion, a PE ratio of 45.33, a price-to-earnings-growth ratio of 0.87 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75. Construction Partners, Inc. has a 12 month low of $93.22 and a 12 month high of $151.00. The business’s 50-day moving average price is $110.40 and its 200-day moving average price is $116.76.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping 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 business had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Construction Partners’s revenue for the quarter was up 34.6% on a year-over-year basis. Sell-side analysts forecast that Construction Partners, Inc. will post 2.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ROAD. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Robert W. Baird dropped their price objective on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Truist Financial initiated coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective on the stock. Finally, Raymond James Financial cut their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 15th. 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.17.

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.