Allspring Global Investments Holdings LLC Cuts Holdings in Construction Partners, Inc. $ROAD

Allspring Global Investments Holdings LLC lessened its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 16.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 712,767 shares of the company’s stock after selling 143,761 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Construction Partners were worth $74,620,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Montag A & Associates Inc. purchased a new stake in shares of Construction Partners during the 1st quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Construction Partners in the first quarter worth $60,000. SVB Wealth LLC purchased a new position in shares of Construction Partners in the 1st quarter valued at $80,000. Golden State Wealth Management LLC boosted its position in Construction Partners by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company’s stock worth $81,000 after purchasing an additional 563 shares during the period. Finally, Covestor Ltd grew its stake in shares of Construction Partners by 124.4% in the first quarter. Covestor Ltd now owns 1,409 shares of the company’s stock valued at $101,000 after buying an additional 781 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Price Performance

ROAD opened at $124.01 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average price is $120.71 and its 200 day moving average price is $104.46. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $138.90. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 90.52, a price-to-earnings-growth ratio of 1.06 and a beta of 0.98.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The company had revenue of $779.28 million for the quarter, compared to analyst estimates of $810.47 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The firm’s revenue for the quarter was up 50.5% compared to the same quarter last year. Construction Partners has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ROAD. Zacks Research raised shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Raymond James Financial reissued a “strong-buy” rating on shares of Construction Partners in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research report on Wednesday, October 8th. Robert W. Baird set a $122.00 price target on Construction Partners and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $112.33.

Construction Partners 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.