Nuveen LLC Invests $8.59 Million in Construction Partners, Inc. $ROAD

Key Points

• Nuveen LLC has acquired a new stake in Construction Partners, Inc. by purchasing 119,493 shares valued at approximately $8.6 million, now holding roughly 0.21% of the company.
• Construction Partners has seen recent positive analyst upgrades, including a shift to a "strong-buy" rating from Baird R W and a reaffirmation of the same by Raymond James, with a consensus target price of $112.33.
• The company's stock currently has a market capitalization of $6.76 billion and reported a revenue increase of 50.5% year-over-year, though it missed earnings expectations in its recent quarterly report.

Nuveen LLC purchased a new position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 119,493 shares of the company's stock, valued at approximately $8,588,000. Nuveen LLC owned approximately 0.21% of Construction Partners at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Construction Partners by 5.0% during the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock valued at $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% during the fourth quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock valued at $98,991,000 after buying an additional 28,723 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Construction Partners by 39.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock valued at $62,724,000 after acquiring an additional 240,496 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Construction Partners by 225.9% during the first quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock valued at $50,018,000 after acquiring an additional 482,374 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Construction Partners by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,361 shares of the company's stock valued at $50,631,000 after acquiring an additional 32,062 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Baird R W raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Finally, Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the stock an "outperform" rating in a research report on Friday, August 8th. Two equities research 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 company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $112.33.

Construction Partners Price Performance

ROAD stock traded up $0.34 during mid-day trading on Thursday, reaching $121.62. The company's stock had a trading volume of 216,022 shares, compared to its average volume of 561,271. The stock has a market cap of $6.82 billion, a PE ratio of 88.70, a P/E/G ratio of 1.57 and a beta of 1.00. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63. Construction Partners, Inc. has a fifty-two week low of $56.52 and a fifty-two week high of $124.12. The company's 50 day moving average is $107.30 and its two-hundred day moving average is $92.39.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The firm's revenue was up 50.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. Equities research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

About Construction Partners

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.