J.W. Cole Advisors Inc. Acquires New Shares in Construction Partners, Inc. (NASDAQ:ROAD)

J.W. Cole Advisors Inc. acquired a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,145 shares of the company's stock, valued at approximately $2,310,000. J.W. Cole Advisors Inc. owned 0.06% of Construction Partners at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ROAD. Vanguard Group Inc. raised its holdings in shares of Construction Partners by 42.8% during the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after acquiring an additional 1,046,617 shares during the period. FMR LLC boosted its stake in Construction Partners by 32.1% in the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after purchasing an additional 565,583 shares during the period. Invesco Ltd. boosted its stake in Construction Partners by 75.6% in the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after purchasing an additional 642,987 shares during the period. Bank of America Corp DE boosted its stake in Construction Partners by 2.6% in the 4th quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock worth $98,991,000 after purchasing an additional 28,723 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Construction Partners by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock worth $93,617,000 after buying an additional 30,362 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial decreased their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th.

Construction Partners Stock Up 1.3%

Shares of ROAD stock traded up $1.31 during trading on Friday, hitting $104.67. 92,673 shares of the company were exchanged, compared to its average volume of 546,581. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.13 and a current ratio of 1.42. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 89.46, a P/E/G ratio of 1.30 and a beta of 0.96. The business's 50-day simple moving average is $104.87 and its 200 day simple moving average is $88.48. Construction Partners, Inc. has a twelve month low of $51.63 and a twelve month high of $114.74.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.12. The company had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The company's revenue for the quarter was up 53.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. As a group, analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Construction Partners Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.