Construction Partners, Inc. $ROAD Shares Acquired by Engle Capital Management L.P.

Engle Capital Management L.P. lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 51.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 185,000 shares of the company’s stock after buying an additional 63,026 shares during the quarter. Construction Partners comprises approximately 7.7% of Engle Capital Management L.P.’s investment portfolio, making the stock its 4th largest holding. Engle Capital Management L.P. owned about 0.33% of Construction Partners worth $20,082,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital World Investors boosted its stake in Construction Partners by 97.5% during the fourth quarter. Capital World Investors now owns 856,696 shares of the company’s stock worth $92,994,000 after acquiring an additional 423,033 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Construction Partners during the fourth quarter valued at about $42,518,000. First Trust Advisors LP boosted its position in shares of Construction Partners by 33.2% during the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after purchasing an additional 264,069 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 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 buying an additional 231,160 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Construction Partners by 38.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 810,881 shares of the company’s stock valued at $90,948,000 after buying an additional 224,575 shares during the period. Institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ROAD shares. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. Robert W. Baird upped their price objective on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Truist Financial assumed coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price for the company. Finally, Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.50.

Construction Partners Trading Down 1.4%

Shares of Construction Partners stock opened at $120.26 on Thursday. The company’s 50-day moving average price is $118.09 and its 200-day moving average price is $117.03. 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 company has a market cap of $6.80 billion, a price-to-earnings ratio of 52.75, a PEG ratio of 1.02 and a beta of 0.88.

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

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.