Advisors Asset Management Inc. Has $5.37 Million Holdings in Construction Partners, Inc. $ROAD

Key Points

• Advisors Asset Management Inc. increased its stake in Construction Partners, Inc. by 2.9%, acquiring an additional 2,135 shares to hold a total of 74,690 shares valued at approximately $5.37 million.
• Construction Partners received multiple upgrades from analysts, with Robert W. Baird setting a target price of $122.00 and classifying the stock as "strong-buy".
• The company reported a quarterly revenue of $779.28 million, which was below analysts' expectations of $810.47 million, and earnings per share of $0.81, missing the consensus estimate by $0.06.

Advisors Asset Management Inc. boosted its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 2.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,690 shares of the company's stock after buying an additional 2,135 shares during the period. Advisors Asset Management Inc. owned 0.13% of Construction Partners worth $5,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in Construction Partners in the 1st quarter valued at about $491,000. Asset Management One Co. Ltd. grew its position in Construction Partners by 15.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 76,119 shares of the company's stock valued at $5,471,000 after buying an additional 10,226 shares in the last quarter. Tyro Capital Management LLC grew its position in Construction Partners by 20.1% in the 4th quarter. Tyro Capital Management LLC now owns 242,309 shares of the company's stock valued at $21,435,000 after buying an additional 40,608 shares in the last quarter. LPL Financial LLC grew its position in Construction Partners by 16.3% in the 1st quarter. LPL Financial LLC now owns 45,371 shares of the company's stock valued at $3,261,000 after buying an additional 6,365 shares in the last quarter. Finally, Swiss National Bank grew its position in Construction Partners by 5.7% in the 1st quarter. Swiss National Bank now owns 91,000 shares of the company's stock valued at $6,540,000 after buying an additional 4,900 shares in the last quarter. Institutional investors own 94.83% of the company's stock.

Construction Partners Stock Down 2.2%

ROAD traded down $2.67 during midday trading on Tuesday, hitting $120.81. 372,981 shares of the company's stock traded hands, compared to its average volume of 554,532. The company has a market cap of $6.78 billion, a PE ratio of 88.18, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99. The stock's fifty day simple moving average is $109.57 and its 200-day simple moving average is $94.93. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. Construction Partners, Inc. has a one year low of $57.22 and a one year high of $124.12.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The company's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ROAD has been the subject of several research reports. Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the company an "outperform" rating in a research report on Friday, August 8th. Raymond James Financial restated a "strong-buy" rating on shares of Construction Partners in a research report on Friday, August 8th. Finally, Baird R W upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Construction Partners presently has an average rating of "Buy" and an average target price of $112.33.

Construction Partners Profile

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.