Van Berkom & Associates Inc. Takes Position in Construction Partners, Inc. (NASDAQ:ROAD)

Key Points

• Van Berkom & Associates Inc. has invested approximately $991,000 in Construction Partners, Inc. by purchasing 13,795 shares during the first quarter.
• Construction Partners reported a significant earnings beat with $0.08 EPS for the last quarter, exceeding expectations of ($0.04) EPS and achieving revenue of $571.65 million.
• Analyst ratings changed, with Raymond James Financial lowering the target price for Construction Partners from $104.00 to $100.00 while maintaining a "strong-buy" rating.

Van Berkom & Associates Inc. acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,795 shares of the company's stock, valued at approximately $991,000.

Several other institutional investors have also added to or reduced their stakes in ROAD. Xponance Inc. bought a new stake in shares of Construction Partners during the 4th quarter valued at $271,000. Sei Investments Co. grew its stake in Construction Partners by 124.0% during the fourth quarter. Sei Investments Co. now owns 168,491 shares of the company's stock valued at $14,905,000 after acquiring an additional 93,260 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Construction Partners during the fourth quarter valued at $805,000. LPL Financial LLC grew its stake in Construction Partners by 42.5% during the fourth quarter. LPL Financial LLC now owns 39,006 shares of the company's stock valued at $3,450,000 after acquiring an additional 11,625 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Construction Partners by 42.8% during the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after acquiring an additional 1,046,617 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Stock Performance

NASDAQ:ROAD traded up $1.16 during trading hours on Wednesday, hitting $103.34. 102,792 shares of the company were exchanged, compared to its average volume of 543,973. The company's 50 day moving average price is $105.05 and its 200-day moving average price is $88.74. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 88.55, a PEG ratio of 1.27 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. Construction Partners, Inc. has a 52-week low of $51.63 and a 52-week high of $114.74.

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

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial dropped their price objective 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.

About Construction Partners

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.