Vaughan Nelson Investment Management L.P. Grows Holdings in Construction Partners, Inc. $ROAD

Vaughan Nelson Investment Management L.P. increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 402,390 shares of the company’s stock after purchasing an additional 10,695 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Construction Partners were worth $44,714,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Morse Asset Management Inc increased its stake in Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after buying an additional 180 shares during the last quarter. Danske Bank A S purchased a new position in shares of Construction Partners in the 3rd quarter worth approximately $38,000. Quarry LP purchased a new position in shares of Construction Partners in the 3rd quarter worth approximately $42,000. MAI Capital Management grew its holdings in shares of Construction Partners by 21.7% in the third quarter. MAI Capital Management now owns 505 shares of the company’s stock valued at $64,000 after acquiring an additional 90 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Construction Partners in the fourth quarter valued at approximately $61,000. 94.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

ROAD has been the subject of a number of research analyst reports. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Truist Financial began coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective on the stock. Robert W. Baird boosted their target price on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their target price for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $122.78 on Monday. Construction Partners, Inc. has a one year low of $93.22 and a one year high of $151.00. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The business’s fifty day moving average price is $118.57 and its 200-day moving average price is $117.23. The stock has a market capitalization of $6.94 billion, a PE ratio of 53.85, a P/E/G ratio of 1.02 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.23. The company had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. On average, equities research analysts anticipate that Construction Partners, Inc. will post 2.95 EPS for the current year.

Construction Partners Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.