Charles Schwab Investment Management Inc. Boosts Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Charles Schwab Investment Management Inc. boosted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 453,212 shares of the company’s stock after acquiring an additional 4,009 shares during the period. Charles Schwab Investment Management Inc. owned 0.86% of Construction Partners worth $31,634,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Intech Investment Management LLC bought a new position in Construction Partners during the third quarter valued at $778,000. Advisors Asset Management Inc. lifted its position in Construction Partners by 3.6% during the third quarter. Advisors Asset Management Inc. now owns 75,749 shares of the company’s stock valued at $5,287,000 after purchasing an additional 2,647 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Construction Partners during the third quarter valued at $10,377,000. Pathstone Holdings LLC lifted its holdings in shares of Construction Partners by 8.0% in the 3rd quarter. Pathstone Holdings LLC now owns 61,717 shares of the company’s stock worth $4,308,000 after acquiring an additional 4,587 shares during the last quarter. Finally, Aubrey Capital Management Ltd purchased a new position in shares of Construction Partners during the 3rd quarter worth about $4,410,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Up 0.6 %

Shares of NASDAQ:ROAD opened at $100.70 on Wednesday. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $103.69. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 76.29, a PEG ratio of 1.20 and a beta of 0.70. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $82.57 and a 200-day moving average price of $67.69.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The company had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. During the same period last year, the business earned $0.59 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. Equities analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

ROAD has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Raymond James upped their price objective on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. DA Davidson increased their price target on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird upped their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three research 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. Based on data from MarketBeat, the company 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.