Sei Investments Co. Has $27.12 Million Stock Holdings in Construction Partners, Inc. $ROAD

Key Points

• Sei Investments increased its Construction Partners stake by 26.7% in the first quarter, owning 244,076 shares valued at approximately $27.12 million. Institutional investors and hedge funds collectively own 94.83% of ROAD.
• Analyst sentiment remains positive but has weakened, with several firms cutting price targets. Construction Partners has a “Moderate Buy” consensus rating and an average target price of $134.17, versus a recent stock price of $105.05.
• The company exceeded quarterly expectations, reporting $0.18 EPS versus a $0.05 loss estimate and revenue of $769.2 million, up 34.6% year over year. Analysts expect full-year EPS of $2.91.

Sei Investments Co. grew its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 26.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 244,076 shares of the company's stock after acquiring an additional 51,463 shares during the quarter. Sei Investments Co. owned about 0.43% of Construction Partners worth $27,122,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ROAD. Geneva Capital Management LLC increased its position in shares of Construction Partners by 0.3% in the fourth quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company's stock worth $197,684,000 after purchasing an additional 6,163 shares during the period. Invesco Ltd. grew its stake in Construction Partners by 23.7% during the fourth quarter. Invesco Ltd. now owns 1,481,914 shares of the company's stock worth $160,862,000 after buying an additional 284,082 shares in the last quarter. Geode Capital Management LLC grew its stake in Construction Partners by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company's stock worth $126,364,000 after buying an additional 4,118 shares in the last quarter. State Street Corp increased its holdings in Construction Partners by 4.7% in the 2nd quarter. State Street Corp now owns 1,112,231 shares of the company's stock valued at $118,208,000 after buying an additional 49,898 shares during the period. Finally, First Trust Advisors LP increased its holdings in Construction Partners by 29.6% in the 1st quarter. First Trust Advisors LP now owns 1,030,378 shares of the company's stock valued at $114,496,000 after buying an additional 235,616 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ROAD. Weiss Ratings downgraded shares of Construction Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Raymond James Financial decreased their price objective on shares of Construction Partners from $161.00 to $150.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, July 15th. Truist Financial began coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They set a "hold" rating and a $130.00 price objective for the company. Robert W. Baird cut their target price on Construction Partners from $169.00 to $145.00 and set an "outperform" rating for the company in a research note on Wednesday, July 1st. Finally, Zacks Research downgraded Construction Partners from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $134.17.

Construction Partners Stock Up 1.7%

ROAD stock opened at $105.05 on Tuesday. The stock has a market capitalization of $5.94 billion, a P/E ratio of 46.07, a price-to-earnings-growth ratio of 0.87 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75. Construction Partners, Inc. has a 12 month low of $93.22 and a 12 month high of $151.00. The firm has a 50-day moving average price of $111.03 and a 200-day moving average price of $117.03.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.23. The company had revenue of $769.20 million for 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 firm's revenue was up 34.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. As a group, equities research analysts anticipate that Construction Partners, Inc. will post 2.91 EPS for the current fiscal year.

Construction Partners Company 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.

Want to see what other hedge funds are holding ROAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Construction Partners, Inc. (NASDAQ:ROAD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.