PVG Asset Management Corp Grows Holdings in Construction Partners, Inc. $ROAD

by · The Markets Daily

PVG Asset Management Corp boosted its position in Construction Partners, Inc. (NASDAQ:ROAD – Free Report) by 510.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,614 shares of the company’s stock after buying an additional 12,220 shares during the quarter. Construction Partners accounts for approximately 1.2% of PVG Asset Management Corp’s holdings, making the stock its 29th biggest holding. PVG Asset Management Corp’s holdings in Construction Partners were worth $1,758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NFSG Corp boosted its position in Construction Partners by 8.7% in the 1st quarter. NFSG Corp now owns 1,251 shares of the company’s stock valued at $139,000 after buying an additional 100 shares during the last quarter. ANB Bank increased its position in shares of Construction Partners by 3.4% during the first quarter. ANB Bank now owns 4,258 shares of the company’s stock worth $473,000 after acquiring an additional 140 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Construction Partners by 0.6% during the first quarter. The Manufacturers Life Insurance Company now owns 23,151 shares of the company’s stock worth $2,573,000 after acquiring an additional 149 shares during the last quarter. &PARTNERS lifted its stake in shares of Construction Partners by 2.5% in the fourth quarter. &PARTNERS now owns 6,899 shares of the company’s stock worth $749,000 after acquiring an additional 167 shares in the last quarter. Finally, Morse Asset Management Inc lifted its stake in shares of Construction Partners by 300.0% in the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after acquiring an additional 180 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Price Performance

NASDAQ:ROAD opened at $103.35 on Monday. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 45.33, a price-to-earnings-growth ratio of 0.87 and a beta of 0.88. Construction Partners, Inc. has a one year low of $93.22 and a one year high of $151.00. The stock has a 50-day simple moving average of $110.40 and a 200 day simple moving average of $116.76. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53.

Construction Partners (NASDAQ:ROAD – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The firm had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Construction Partners’s revenue for the quarter was up 34.6% compared to the same quarter last year. Sell-side analysts predict that Construction Partners, Inc. will post 2.91 EPS for the current fiscal year.

Analyst Ratings Changes

ROAD has been the subject of a number of recent analyst reports. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Raymond James Financial cut their target price on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 15th. Truist Financial assumed coverage on Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price for the company. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, Robert W. Baird dropped their price target on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. One 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.17.

Check Out Our Latest Stock Analysis on Construction Partners

Construction Partners Profile

(Free Report)

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.

See Also

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