Principal Financial Group Inc. Has $2.81 Million Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Principal Financial Group Inc. increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,215 shares of the company’s stock after acquiring an additional 1,596 shares during the quarter. Principal Financial Group Inc. owned about 0.08% of Construction Partners worth $2,807,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ROAD. SG Americas Securities LLC acquired a new position in Construction Partners during the 1st quarter valued at about $139,000. Vanguard Group Inc. lifted its holdings in Construction Partners by 3.0% in the first quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after buying an additional 69,223 shares during the period. Covestor Ltd grew its holdings in Construction Partners by 17,700.0% during the 1st quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after acquiring an additional 531 shares during the period. American International Group Inc. raised its position in shares of Construction Partners by 5.8% during the 1st quarter. American International Group Inc. now owns 21,145 shares of the company’s stock valued at $1,187,000 after acquiring an additional 1,161 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Construction Partners by 6.9% in the 1st quarter. Advisors Asset Management Inc. now owns 70,192 shares of the company’s stock valued at $3,941,000 after purchasing an additional 4,542 shares during the period. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Up 3.2 %

Shares of Construction Partners stock opened at $99.98 on Friday. The company has a market capitalization of $5.27 billion, a P/E ratio of 74.06, a price-to-earnings-growth ratio of 1.16 and a beta of 0.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. The business has a 50-day moving average of $78.38 and a two-hundred day moving average of $65.26. Construction Partners, Inc. has a 1 year low of $39.79 and a 1 year high of $100.70.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The business had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same period in the previous year, the company posted $0.59 earnings per share. Construction Partners’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts predict that Construction Partners, Inc. will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ROAD shares. DA Davidson lifted their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Robert W. Baird upped their price target on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James lifted their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus upped their target price on shares of Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.00.

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.