Segall Bryant & Hamill LLC Raises Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Segall Bryant & Hamill LLC increased its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 16.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,463 shares of the company's stock after acquiring an additional 23,767 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.31% of Construction Partners worth $12,251,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in shares of Construction Partners in the fourth quarter valued at about $1,596,000. PNC Financial Services Group Inc. raised its holdings in Construction Partners by 39.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,826 shares of the company's stock worth $338,000 after purchasing an additional 1,088 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Construction Partners by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,659 shares of the company's stock worth $766,000 after purchasing an additional 625 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Construction Partners by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock worth $2,612,000 after acquiring an additional 350 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Construction Partners by 33.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,086 shares of the company's stock worth $1,688,000 after acquiring an additional 4,822 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Construction Partners Stock Down 4.6%

Shares of Construction Partners stock traded down $5.24 on Friday, reaching $107.57. 809,065 shares of the company were exchanged, compared to its average volume of 477,239. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $114.74. The company has a market cap of $6.03 billion, a P/E ratio of 91.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.96. 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 stock's 50 day moving average price is $104.65 and its 200-day moving average price is $88.16.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.12. The firm had revenue of $571.65 million during the quarter, compared to the consensus estimate of $559.61 million. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The firm's quarterly revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) earnings per share. As a group, equities analysts forecast 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.