Northern Trust Corp Purchases 22,460 Shares of Construction Partners, Inc. $ROAD

Key Points

• Northern Trust Corp increased its stake in Construction Partners, Inc. by 5.2% in Q1, owning 0.81% of the company, valued at approximately $32.4 million.
• Construction Partners reported Q2 earnings of $0.81 EPS, missing the estimate of $0.87, while revenue reached $779.28 million, significantly up from the previous year.
• Wall Street analysts have given a generally optimistic outlook on Construction Partners, with multiple firms setting a price target of $122.00 and issuing "strong-buy" ratings.

Northern Trust Corp lifted its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 450,751 shares of the company's stock after buying an additional 22,460 shares during the quarter. Northern Trust Corp owned about 0.81% of Construction Partners worth $32,395,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in shares of Construction Partners during the 1st quarter valued at $491,000. Asset Management One Co. Ltd. increased its position in Construction Partners by 15.5% during the first quarter. Asset Management One Co. Ltd. now owns 76,119 shares of the company's stock worth $5,471,000 after buying an additional 10,226 shares during the last quarter. Tyro Capital Management LLC raised its holdings in Construction Partners by 20.1% during the fourth 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 raised its holdings in Construction Partners by 16.3% during the first 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 lifted its position in shares of Construction Partners by 5.7% in the first quarter. Swiss National Bank now owns 91,000 shares of the company's stock worth $6,540,000 after buying an additional 4,900 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ROAD. Robert W. Baird set a $122.00 price objective on Construction Partners and gave the company an "outperform" rating in a report on Friday, August 8th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners in a research report on Friday, August 8th. Finally, Baird R W upgraded Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $112.33.

Construction Partners Stock Performance

Shares of ROAD stock traded up $5.58 during trading hours on Thursday, reaching $121.44. 600,264 shares of the company's stock were exchanged, compared to its average volume of 587,426. Construction Partners, Inc. has a fifty-two week low of $56.52 and a fifty-two week high of $124.12. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $6.81 billion, a P/E ratio of 88.64, a P/E/G ratio of 1.48 and a beta of 0.99. The business has a fifty day moving average price of $108.89 and a 200-day moving average price of $94.04.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results 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 the consensus estimate of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The company's revenue was up 50.5% compared to the same quarter last year. During the same period last year, the firm posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. Analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Construction Partners Company 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.