TimesSquare Capital Management LLC Acquires 74,050 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

TimesSquare Capital Management LLC grew its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 28.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 330,880 shares of the company's stock after purchasing an additional 74,050 shares during the quarter. TimesSquare Capital Management LLC owned about 0.59% of Construction Partners worth $23,780,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROAD. Charles Schwab Investment Management Inc. grew its position in shares of Construction Partners by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company's stock valued at $40,957,000 after purchasing an additional 9,788 shares during the last quarter. 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. lifted its stake in shares of Construction Partners by 39.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,826 shares of the company's stock valued at $338,000 after buying an additional 1,088 shares during the period. AlphaQuest LLC bought a new stake in shares of Construction Partners in the fourth quarter valued at about $138,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Construction Partners by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,659 shares of the company's stock valued at $766,000 after buying an additional 625 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Construction Partners Stock Performance

Shares of NASDAQ ROAD traded up $2.08 during mid-day trading on Thursday, hitting $111.25. The company had a trading volume of 462,464 shares, compared to its average volume of 473,960. 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's 50-day simple moving average is $104.01 and its 200-day simple moving average is $87.87. Construction Partners, Inc. has a 12 month low of $51.63 and a 12 month high of $113.74. The firm has a market cap of $6.23 billion, a P/E ratio of 96.14, a PEG ratio of 1.32 and a beta of 0.96.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.12. The business had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The firm's revenue was up 53.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. As a group, analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal 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.