Federated Hermes Inc. Sells 26,566 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Key Points

• Federated Hermes Inc. reduced its stake in Construction Partners, Inc. by 59.8%, now holding 17,887 shares valued at approximately $1.29 million.
• In the fourth quarter, other institutional investors such as FMR LLC and Invesco Ltd. significantly increased their stakes in Construction Partners, reflecting growing institutional interest in the company.
• Construction Partners reported a quarterly earnings of $0.08 per share, surpassing analyst expectations by $0.12, with revenues of $571.65 million, up 53.9% year-over-year.

Federated Hermes Inc. decreased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,887 shares of the company's stock after selling 26,566 shares during the period. Federated Hermes Inc.'s holdings in Construction Partners were worth $1,286,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ROAD. Montag A & Associates Inc. purchased a new position in Construction Partners in the first quarter worth $29,000. Versant Capital Management Inc bought a new stake in shares of Construction Partners during the 1st quarter worth $30,000. Johnson Financial Group Inc. purchased a new position in shares of Construction Partners in the 4th quarter worth about $66,000. Golden State Wealth Management LLC grew 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 valued at $81,000 after buying an additional 563 shares during the period. Finally, Amalgamated Bank increased its holdings in Construction Partners by 8.8% during the first quarter. Amalgamated Bank now owns 1,593 shares of the company's stock worth $114,000 after buying an additional 129 shares during the last quarter. Institutional investors own 94.83% of the company's stock.

Wall Street Analyst Weigh In

Separately, Raymond James Financial dropped their target price on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th.

Construction Partners Stock Performance

Shares of ROAD traded up $11.16 during mid-day trading on Thursday, hitting $104.59. The stock had a trading volume of 1,101,516 shares, compared to its average volume of 529,736. Construction Partners, Inc. has a 52 week low of $55.78 and a 52 week high of $114.74. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.42 and a quick ratio of 1.13. The business has a fifty day moving average price of $104.38 and a 200-day moving average price of $89.28. The firm has a market cap of $5.86 billion, a P/E ratio of 89.39, a PEG ratio of 1.19 and a beta of 1.00.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $779.28 million during the quarter, compared to analysts' expectations of $810.47 million. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The company's revenue was up 50.5% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. On average, equities research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

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.