Hsbc Holdings PLC Purchases 10,741 Shares of Construction Partners, Inc. $ROAD

Key Points

• HSBC Holdings PLC increased its stake in Construction Partners by 191.7% in the fourth quarter, buying 10,741 additional shares and bringing its total to 16,344 shares worth about $1.79 million.
• Institutional interest in ROAD remains strong, with hedge funds and other investors making new or larger positions and institutions owning 94.83% of the company.
• Analysts are still generally positive on Construction Partners, with a Moderate Buy consensus and an average price target of $132.50, even as the stock recently traded at $94.89.

Hsbc Holdings PLC lifted its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 191.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,344 shares of the company's stock after acquiring an additional 10,741 shares during the quarter. Hsbc Holdings PLC's holdings in Construction Partners were worth $1,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ROAD. Morse Asset Management Inc boosted its position in Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company's stock worth $30,000 after purchasing an additional 180 shares during the period. Danske Bank A S bought a new stake in shares of Construction Partners in the third quarter valued at approximately $38,000. Quarry LP purchased a new stake in shares of Construction Partners during the 3rd quarter valued at approximately $42,000. Summit Securities Group LLC purchased a new stake in shares of Construction Partners during the 4th quarter valued at approximately $61,000. Finally, NewEdge Advisors LLC boosted its holdings in Construction Partners by 161.1% in the 2nd quarter. NewEdge Advisors LLC now owns 564 shares of the company's stock worth $60,000 after buying an additional 348 shares during the period. Institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial assumed coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They issued a "hold" rating and a $130.00 price objective for the company. Raymond James Financial restated a "strong-buy" rating and set a $140.00 target price on shares of Construction Partners in a research report on Monday, April 27th. Robert W. Baird reduced their price target on Construction Partners from $169.00 to $145.00 and set an "outperform" rating for the company in a research report on Wednesday, July 1st. Zacks Research upgraded Construction Partners from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings cut Construction Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $132.50.

Construction Partners Price Performance

Construction Partners stock traded down $0.61 during midday trading on Friday, reaching $94.89. 1,111,836 shares of the stock were exchanged, compared to its average volume of 673,602. Construction Partners, Inc. has a 52 week low of $93.22 and a 52 week high of $151.00. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The firm has a market cap of $5.36 billion, a PE ratio of 41.62, a PEG ratio of 0.79 and a beta of 0.88. The company's fifty day moving average is $116.74 and its 200-day moving average is $117.73.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.23. The firm had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The business's revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 EPS. On average, sell-side analysts forecast that Construction Partners, Inc. will post 2.95 EPS for the current year.

Construction Partners Profile

Construction Partners, Inc NASDAQ: ROAD is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners' operations are its network of asphalt plants, quarries and aggregate production facilities.

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