Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 2.98MM shares of Construction Partners Inc (ROAD). This represents 7.2% of the company.
In their previous filing dated February 3, 2022 they reported 2.15MM shares and 5.30% of the company, an increase in shares of 38.25% and an increase in total ownership of 1.90% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 18.26% Upside
As of January 27, 2023, the average one-year price target for Construction Partners is $32.64. The forecasts range from a low of $27.27 to a high of $38.85. The average price target represents an increase of 18.26% from its latest reported closing price of $27.60.
The projected annual revenue for Construction Partners is $1,528MM, an increase of 17.39%. The projected annual EPS is $0.65, an increase of 58.00%.
Fund Sentiment
There are 342 funds or institutions reporting positions in Construction Partners. This is an increase of 21 owner(s) or 6.54%.
Average portfolio weight of all funds dedicated to US:ROAD is 0.2175%, an increase of 20.4066%. Total shares owned by institutions decreased in the last three months by 2.05% to 50,421K shares.
What are large shareholders doing?
Conestoga Capital Advisors holds 5,238,822 shares representing 9.94% ownership of the company. In it's prior filing, the firm reported owning 5,327,797 shares, representing a decrease of 1.70%. The firm increased its portfolio allocation in ROAD by 32.53% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 4,524,678 shares representing 8.58% ownership of the company. In it's prior filing, the firm reported owning 4,639,962 shares, representing a decrease of 2.55%. The firm decreased its portfolio allocation in ROAD by 5.77% over the last quarter.
CCASX - Conestoga Small Cap Fund Investors Class holds 3,035,866 shares representing 5.76% ownership of the company. In it's prior filing, the firm reported owning 3,130,866 shares, representing a decrease of 3.13%. The firm increased its portfolio allocation in ROAD by 29.46% over the last quarter.
Wasatch Advisors holds 2,521,542 shares representing 4.78% ownership of the company. In it's prior filing, the firm reported owning 3,012,574 shares, representing a decrease of 19.47%. The firm increased its portfolio allocation in ROAD by 15.24% over the last quarter.
Geneva Capital Management holds 2,417,939 shares representing 4.59% ownership of the company. In it's prior filing, the firm reported owning 2,289,184 shares, representing an increase of 5.32%. The firm decreased its portfolio allocation in ROAD by 44.82% over the last quarter.
Construction Partners Background Information
(This description is provided by the company.)
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 48 hot-mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company's public projects are maintenance-related. Private sector projects include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
