Russell Investments Group Ltd. Has $7.50 Million Position in Construction Partners, Inc. $ROAD

Key Points

• Russell Investments Group Ltd. increased its stake in Construction Partners, Inc. by 10.6%, owning 104,317 shares worth approximately $7.5 million.
• Construction Partners received favorable ratings from several analysts, with Baird R W upgrading the stock to a "strong-buy" and setting a price target of $122.00.
• Despite reporting a miss on quarterly earnings projections with $0.81 per share, the company experienced a year-over-year revenue growth of 50.5%.

Russell Investments Group Ltd. lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 104,317 shares of the company's stock after buying an additional 9,992 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Construction Partners worth $7,497,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ROAD. Artemis Investment Management LLP boosted its position in Construction Partners by 225.9% during the 1st quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock valued at $50,018,000 after purchasing an additional 482,374 shares during the period. First Trust Advisors LP raised its position in Construction Partners by 44.9% in the fourth quarter. First Trust Advisors LP now owns 839,873 shares of the company's stock worth $74,295,000 after acquiring an additional 260,148 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Construction Partners during the fourth quarter valued at approximately $22,456,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Construction Partners by 39.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock worth $62,724,000 after acquiring an additional 240,496 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Construction Partners by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock valued at $263,499,000 after purchasing an additional 173,963 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ROAD shares. Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a research report on Friday, August 8th. Baird R W raised Construction Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the stock an "outperform" 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $112.33.

Construction Partners Trading Up 0.4%

ROAD traded up $0.52 during mid-day trading on Monday, reaching $121.12. The stock had a trading volume of 420,619 shares, compared to its average volume of 698,328. The firm's fifty day simple moving average is $106.59 and its two-hundred day simple moving average is $91.98. The stock has a market capitalization of $6.79 billion, a P/E ratio of 88.41, a P/E/G ratio of 1.54 and a beta of 1.00. Construction Partners, Inc. has a 52 week low of $56.52 and a 52 week high of $122.97. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its 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 business had revenue of $779.28 million for the quarter, compared to analyst estimates of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.Construction Partners's revenue was up 50.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. On average, equities analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current 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.