Connor Clark & Lunn Investment Management Ltd. Trims Stake in Construction Partners, Inc. $ROAD

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its holdings in Construction Partners, Inc. by 23.3% in the first quarter, selling 4,445 shares and holding a total of 14,641 shares worth approximately $1,052,000.
• Several hedge funds, including Vanguard Group and Allspring Global Investments, have increased their positions in Construction Partners, with institutional investors owning 94.83% of the company's stock.
• Construction Partners reported earnings of $0.81 per share for the last quarter, falling short of analysts' expectations of $0.87, with revenue of $779.28 million compared to an expected $810.47 million.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 23.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,641 shares of the company's stock after selling 4,445 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Construction Partners were worth $1,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Montag A & Associates Inc. bought a new position in shares of Construction Partners in the first quarter worth approximately $29,000. Versant Capital Management Inc bought a new stake in shares of Construction Partners during the first quarter valued at approximately $30,000. Johnson Financial Group Inc. purchased a new position in Construction Partners in the 4th quarter worth approximately $66,000. Golden State Wealth Management LLC lifted its position in Construction Partners by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock valued at $81,000 after acquiring an additional 563 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in Construction Partners by 9.2% in the 1st quarter. Manchester Capital Management LLC now owns 1,461 shares of the company's stock valued at $105,000 after acquiring an additional 123 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Construction Partners Stock Performance

ROAD traded up $0.45 during mid-day trading on Thursday, reaching $115.23. 42,444 shares of the company traded hands, compared to its average volume of 561,167. The company's fifty day moving average price is $105.71 and its 200-day moving average price is $91.10. The stock has a market capitalization of $6.46 billion, a P/E ratio of 83.96, a P/E/G ratio of 1.43 and a beta of 1.00. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. 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 issued its quarterly earnings data on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The business's revenue was up 50.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

About Construction Partners

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.