Kayne Anderson Rudnick Investment Management LLC Acquires 12,808 Shares of Construction Partners, Inc. $ROAD

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Construction Partners, Inc. by purchasing an additional 12,808 shares, raising its ownership to 2,592,079 shares, valued at approximately $186.3 million.
• Construction Partners reported quarterly earnings showing a 50.5% year-over-year revenue increase but missed EPS estimates by $0.06, with a reported $0.81 EPS compared to the consensus of $0.87.
• Analyst ratings indicate a consensus of "Buy" for Construction Partners, with two analysts rating it as "Strong Buy," highlighting a target price of $122.00.

Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,592,079 shares of the company's stock after acquiring an additional 12,808 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 4.64% of Construction Partners worth $186,293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Construction Partners by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock worth $263,499,000 after buying an additional 173,963 shares during the period. Bank of America Corp DE boosted its position in shares of Construction Partners by 2.6% in the fourth quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock worth $98,991,000 after buying an additional 28,723 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Construction Partners by 39.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock worth $62,724,000 after buying an additional 240,496 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Construction Partners by 10.9% in the first quarter. Ameriprise Financial Inc. now owns 792,993 shares of the company's stock worth $56,992,000 after buying an additional 78,042 shares during the period. Finally, Artemis Investment Management LLP boosted its position in shares of Construction Partners by 225.9% in the first quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock worth $50,018,000 after buying an additional 482,374 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Stock Down 2.1%

NASDAQ ROAD traded down $2.58 during trading on Friday, hitting $118.90. 173,231 shares of the company traded hands, compared to its average volume of 559,707. Construction Partners, Inc. has a 12 month low of $56.52 and a 12 month high of $124.12. The business has a fifty day simple moving average of $107.66 and a 200 day simple moving average of $92.67. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $6.67 billion, a P/E ratio of 86.36, a PEG ratio of 1.55 and a beta of 1.00.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate 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 net margin of 3.04% and a return on equity of 12.24%. Construction Partners's quarterly revenue was up 50.5% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current year.

Wall Street Analyst Weigh In

ROAD has been the subject of several recent analyst reports. Robert W. Baird set a $122.00 target price on Construction Partners and gave the stock an "outperform" rating in a research report on Friday, August 8th. Raymond James Financial reiterated a "strong-buy" rating on shares of Construction Partners in a 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 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, the company currently has a consensus rating of "Buy" and a consensus 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.