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. trimmed its holdings 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 Form 13F filing with the SEC. The firm owned 455,627 shares of the company's stock after selling 7,373 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.82% of Construction Partners worth $32,746,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Montag A & Associates Inc. bought a new position in Construction Partners during the first quarter worth about $29,000. Versant Capital Management Inc bought a new position in Construction Partners during the first quarter worth about $30,000. Johnson Financial Group Inc. bought a new position in Construction Partners during the fourth quarter worth about $66,000. Golden State Wealth Management LLC increased its position in 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 acquiring an additional 563 shares during the period. Finally, Manchester Capital Management LLC increased its position in Construction Partners by 9.2% during the first quarter. Manchester Capital Management LLC now owns 1,461 shares of the company's stock worth $105,000 after acquiring an additional 123 shares during the period. 94.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Construction Partners Price Performance

Shares of Construction Partners stock traded up $4.62 during midday trading on Friday, hitting $120.60. 899,152 shares of the company traded hands, compared to its average volume of 667,746. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 88.03, a PEG ratio of 1.54 and a beta of 1.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The firm's fifty day moving average price is $106.27 and its 200-day moving average price is $91.69. Construction Partners, Inc. has a 12 month low of $56.52 and a 12 month high of $122.97.

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