Construction Partners, Inc. $ROAD Shares Newly Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund purchased a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,848 shares of the company’s stock, valued at approximately $977,000.

A number of other institutional investors have also recently made changes to their positions in the business. NFSG Corp raised its stake in shares of Construction Partners by 8.7% in the first quarter. NFSG Corp now owns 1,251 shares of the company’s stock valued at $139,000 after acquiring an additional 100 shares in the last quarter. ANB Bank grew its holdings in Construction Partners by 3.4% during the 1st quarter. ANB Bank now owns 4,258 shares of the company’s stock worth $473,000 after acquiring an additional 140 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Construction Partners by 0.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 23,151 shares of the company’s stock valued at $2,573,000 after purchasing an additional 149 shares during the last quarter. Hilltop National Bank raised its holdings in shares of Construction Partners by 8.5% in the 2nd quarter. Hilltop National Bank now owns 2,452 shares of the company’s stock valued at $291,000 after purchasing an additional 192 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Construction Partners by 78.0% during the third quarter. Signaturefd LLC now owns 470 shares of the company’s stock worth $42,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

ROAD has been the topic of several recent analyst reports. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. B. Riley Financial reduced their price objective on shares of Construction Partners from $135.00 to $100.00 and set a “buy” rating for the company in a research report on Monday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $125.00 target price on shares of Construction Partners in a research report on Friday. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, Truist Financial dropped their price objective on Construction Partners from $130.00 to $90.00 and set a “hold” rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Construction Partners Stock Performance

Shares of ROAD stock opened at $85.30 on Tuesday. Construction Partners, Inc. has a 52-week low of $74.51 and a 52-week high of $151.00. The stock’s 50-day moving average price is $91.25 and its 200 day moving average price is $110.20. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $4.84 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 0.74 and a beta of 0.94.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, August 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.01 by $0.07. The business had revenue of $999.42 million during the quarter, compared to analysts’ expectations of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, equities research analysts forecast that Construction Partners, Inc. will post 2.93 EPS for the current year.

Construction Partners Company Profile

Construction Partners, Inc is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers.

The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.

Founded in 2007 and headquartered in Dothan, Alabama, Construction Partners operates across the southeastern United States and in Texas.