Construction Partners, Inc. (NASDAQ:ROAD) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,155 shares of the company’s stock after purchasing an additional 2,597 shares during the quarter. Federated Hermes Inc.’s holdings in Construction Partners were worth $1,389,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ROAD. Conestoga Capital Advisors LLC grew its position in shares of Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after buying an additional 120,155 shares in the last quarter. Geneva Capital Management LLC lifted its stake in Construction Partners by 8.5% in the first quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock worth $191,403,000 after acquiring an additional 268,225 shares during the last quarter. Vanguard Group Inc. lifted its stake in Construction Partners by 3.0% in the first quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock worth $135,628,000 after acquiring an additional 69,223 shares during the last quarter. Wasatch Advisors LP grew its holdings in Construction Partners by 188.3% during the 1st quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock worth $95,024,000 after acquiring an additional 1,105,423 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Construction Partners by 8.0% in the 2nd quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock valued at $52,401,000 after purchasing an additional 70,099 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Activity

In related news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the completion of the sale, the director now owns 102,592 shares in the company, valued at approximately $6,357,626.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.80% of the company’s stock.

Construction Partners Stock Performance

NASDAQ ROAD opened at $72.53 on Friday. The company has a fifty day moving average of $61.66 and a two-hundred day moving average of $57.16. The company has a market capitalization of $3.83 billion, a PE ratio of 61.99, a P/E/G ratio of 1.52 and a beta of 0.67. Construction Partners, Inc. has a 1 year low of $34.21 and a 1 year high of $76.73. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The business’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, analysts expect that Construction Partners, Inc. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ROAD has been the subject of several recent analyst reports. DA Davidson lifted their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Stifel Nicolaus upped their price objective on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Raymond James raised their target price on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

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.