Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Construction Partners, Inc. by 15.9%, now holding 1,256,091 shares valued at approximately $90.3 million as of its latest SEC filing.
• Several large investors, including Artemis Investment Management and First Trust Advisors, increased their positions in Construction Partners during the first quarter, demonstrating growing institutional interest.
• Construction Partners reported earnings of $0.81 per share, missing the consensus estimate of $0.87, with revenue reaching $779.28 million for the quarter.

Invesco Ltd. cut its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 15.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,256,091 shares of the company's stock after selling 237,775 shares during the period. Invesco Ltd. owned 2.25% of Construction Partners worth $90,275,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ROAD. Artemis Investment Management LLP increased its position in Construction Partners by 225.9% in the first quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock worth $50,018,000 after buying an additional 482,374 shares during the period. First Trust Advisors LP increased its position in Construction Partners by 44.9% in the fourth quarter. First Trust Advisors LP now owns 839,873 shares of the company's stock worth $74,295,000 after buying an additional 260,148 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Construction Partners in the fourth quarter worth $22,456,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Construction Partners by 39.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock valued at $62,724,000 after purchasing an additional 240,496 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Construction Partners by 5.0% during the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock valued at $263,499,000 after purchasing an additional 173,963 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently 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 target on Construction Partners and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Baird R W raised Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th.

Construction Partners Price Performance

Shares of ROAD opened at $107.57 on Friday. The stock's fifty day moving average is $105.25 and its 200-day moving average is $90.44. Construction Partners, Inc. has a one year low of $56.52 and a one year high of $119.99. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 78.52, a price-to-earnings-growth ratio of 1.44 and a beta of 1.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.13 and a current ratio of 1.47.

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 the consensus estimate of $0.87 by ($0.06). Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The firm had revenue of $779.28 million for the quarter, compared to the consensus estimate of $810.47 million. During the same period in the prior year, the business earned $0.59 EPS. The company's quarterly revenue was up 50.5% compared to the same quarter last year. Equities analysts anticipate that Construction Partners, Inc. will post 1.96 EPS 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.

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