Charles Schwab Investment Management Inc. Sells 7,373 Shares of Construction Partners, Inc. $ROAD

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Construction Partners, Inc. by selling 7,373 shares, resulting in a total of approximately 455,627 shares owned, valued at $32.7 million.
• Construction Partners reported an earnings per share (EPS) of $0.81 for the latest quarter, missing analysts' expectations, with revenue of $779.28 million, which was below the consensus estimate of $810.47 million.
• Analysts have given a strong-buy rating on shares of Construction Partners, with Baird R W setting a price target of $122.00 in their recent analyst reports.

Charles Schwab Investment Management Inc. lessened its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 455,627 shares of the company's stock after selling 7,373 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.82% of Construction Partners worth $32,746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new position in shares of Construction Partners during the 1st quarter valued at approximately $29,000. Versant Capital Management Inc bought a new position in shares of Construction Partners during the first quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new stake in shares of Construction Partners in the 4th quarter worth about $66,000. Golden State Wealth Management LLC boosted its position in shares of Construction Partners by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock worth $81,000 after buying an additional 563 shares during the period. Finally, Manchester Capital Management LLC increased its holdings in shares of Construction Partners by 9.2% during the first quarter. Manchester Capital Management LLC now owns 1,461 shares of the company's stock valued at $105,000 after purchasing an additional 123 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Price Performance

Shares of NASDAQ:ROAD traded up $1.20 during trading on Thursday, reaching $115.98. The stock had a trading volume of 581,974 shares, compared to its average volume of 564,692. The business's 50-day moving average price is $105.71 and its 200 day moving average price is $91.10. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. The stock has a market capitalization of $6.51 billion, a PE ratio of 84.66, a P/E/G ratio of 1.43 and a beta of 1.00. Construction Partners, Inc. has a 52 week low of $56.52 and a 52 week high of $119.99.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The business had revenue of $779.28 million during the quarter, compared to analyst estimates of $810.47 million. During the same quarter last year, the business posted $0.59 earnings per share. The business's quarterly revenue was up 50.5% compared to the same quarter last year. Construction Partners has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Baird R W raised Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Construction Partners has a consensus rating of "Buy" and a consensus target price of $112.33.

Construction Partners Company 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.