State of New Jersey Common Pension Fund D Sells 8,805 Shares of Construction Partners, Inc. $ROAD

State of New Jersey Common Pension Fund D cut its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 31.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,756 shares of the company’s stock after selling 8,805 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Construction Partners were worth $1,993,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Construction Partners by 2,750.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock valued at $30,000 after purchasing an additional 275 shares in the last quarter. Montag A & Associates Inc. bought a new stake in shares of Construction Partners during the first quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. boosted its position in shares of Construction Partners by 88.9% during the second quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company’s stock valued at $45,000 after purchasing an additional 200 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Construction Partners during the first quarter valued at approximately $60,000. Finally, SVB Wealth LLC bought a new stake in shares of Construction Partners during the first quarter valued at approximately $80,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Stock Down 3.0%

Shares of NASDAQ:ROAD opened at $112.68 on Friday. The stock has a fifty day simple moving average of $122.74 and a two-hundred day simple moving average of $108.18. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 82.25, a PEG ratio of 1.03 and a beta of 0.98. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $138.90. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $779.28 million for the quarter, compared to analysts’ expectations of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The firm’s quarterly revenue was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROAD has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research report on Wednesday, October 8th. Zacks Research upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Robert W. Baird set a $122.00 price target on Construction Partners and gave the company an “outperform” rating in a research report on Friday, August 8th. Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. Finally, DA Davidson lifted their price target on Construction Partners from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $125.67.

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.