Construction Partners, Inc. $ROAD Holdings Raised by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 8.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,441 shares of the company’s stock after buying an additional 16,402 shares during the quarter. Fifth Third Bancorp owned about 0.38% of Construction Partners worth $19,666,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new position in shares of Construction Partners in the first quarter worth $39,000. USA Financial Formulas bought a new position in Construction Partners in the 3rd quarter valued at about $40,000. Salomon & Ludwin LLC bought a new position in Construction Partners in the 3rd quarter valued at about $42,000. Signaturefd LLC raised its position in shares of Construction Partners by 78.0% in the 3rd quarter. Signaturefd LLC now owns 470 shares of the company’s stock valued at $42,000 after buying an additional 206 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Construction Partners in the 2nd quarter valued at approximately $63,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Trading Down 0.3%

Shares of Construction Partners stock opened at $80.75 on Friday. The firm’s 50 day moving average is $89.59 and its 200 day moving average is $109.60. The firm has a market capitalization of $4.58 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 0.67 and a beta of 0.94. Construction Partners, Inc. has a 1 year low of $74.51 and a 1 year high of $151.00. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68.

Analyst Ratings Changes

A number of analysts have recently weighed in on ROAD shares. Robert W. Baird cut their price target on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. Zacks Research cut shares of Construction Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday. B. Riley Financial lowered their price objective on shares of Construction Partners from $135.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, November 9th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $125.00 target price on shares of Construction Partners in a research note on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

Construction Partners Company Profile

Construction Partners, Inc. is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers. The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.