Construction Partners, Inc. (NASDAQ:ROAD) Position Reduced by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,017 shares of the company's stock after selling 23,515 shares during the period. Asset Management One Co. Ltd. owned about 0.16% of Construction Partners worth $3,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of ROAD. Bank of New York Mellon Corp increased its stake in shares of Construction Partners by 11.7% during the first quarter. Bank of New York Mellon Corp now owns 573,400 shares of the company's stock worth $15,012,000 after buying an additional 59,957 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in Construction Partners during the 1st quarter worth approximately $229,000. MetLife Investment Management LLC increased its position in shares of Construction Partners by 82.3% in the 1st quarter. MetLife Investment Management LLC now owns 21,313 shares of the company's stock valued at $558,000 after purchasing an additional 9,622 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Construction Partners by 38.5% in the 1st quarter. Rhumbline Advisers now owns 34,539 shares of the company's stock valued at $904,000 after purchasing an additional 9,598 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Construction Partners by 23.2% during the 1st quarter. BlackRock Inc. now owns 2,655,171 shares of the company's stock worth $69,511,000 after purchasing an additional 500,697 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Performance

NASDAQ ROAD traded down $0.93 during trading hours on Friday, hitting $55.71. The company had a trading volume of 148,923 shares, compared to its average volume of 352,366. The business has a 50 day moving average of $51.26 and a 200-day moving average of $44.68. The company has a market cap of $2.94 billion, a PE ratio of 52.20, a price-to-earnings-growth ratio of 1.45 and a beta of 0.65. Construction Partners, Inc. has a 1-year low of $24.20 and a 1-year high of $58.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its earnings results on Friday, February 9th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The business had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The business's quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 EPS. As a group, equities research analysts expect that Construction Partners, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on ROAD shares. Sidoti lowered Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 target price on the stock. in a report on Thursday, March 28th. Robert W. Baird downgraded Construction Partners from an "outperform" rating to a "neutral" rating and increased their price objective for the company from $46.00 to $50.00 in a report on Monday, February 12th. Finally, Stifel Nicolaus boosted their target price on Construction Partners from $51.00 to $57.00 and gave the stock a "buy" rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.00.

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.