Russell Investments Group Ltd. Decreases Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Russell Investments Group Ltd. cut its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 19.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,471 shares of the company's stock after selling 39,165 shares during the quarter. Russell Investments Group Ltd. owned 0.31% of Construction Partners worth $7,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Truist Financial Corp grew its holdings in Construction Partners by 8.1% in the 4th quarter. Truist Financial Corp now owns 69,495 shares of the company's stock worth $3,024,000 after acquiring an additional 5,202 shares during the last quarter. Semanteon Capital Management LP bought a new position in Construction Partners during the 4th quarter valued at approximately $1,147,000. Cornerstone Investment Partners LLC purchased a new stake in Construction Partners in the 4th quarter worth approximately $209,000. Federated Hermes Inc. bought a new stake in shares of Construction Partners in the 4th quarter worth approximately $150,000. Finally, Strs Ohio purchased a new position in shares of Construction Partners during the fourth quarter valued at approximately $539,000. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Construction Partners Stock Down 2.0 %

Shares of NASDAQ:ROAD traded down $1.06 during midday trading on Wednesday, reaching $52.72. The company's stock had a trading volume of 387,706 shares, compared to its average volume of 357,981. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $53.05 and a 200-day moving average of $46.54. The firm has a market capitalization of $2.78 billion, a P/E ratio of 49.80, a PEG ratio of 1.33 and a beta of 0.68. Construction Partners, Inc. has a 12-month low of $27.22 and a 12-month high of $58.65.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Friday, February 9th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Construction Partners's quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Construction Partners, Inc. will post 1.34 earnings per share for the current 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.