PDT Partners LLC Makes New $1.45 Million Investment in Construction Partners, Inc. $ROAD

Key Points

• PDT Partners LLC has acquired a new stake in Construction Partners, Inc. (NASDAQ: ROAD), purchasing 20,205 shares valued at approximately $1,452,000.
• The company's stock is currently down 1.3%, with a market cap of $6.64 billion and a PE ratio of 86.36.
• Analysts have a consensus rating of "Buy" for Construction Partners, with an average price target of $112.33.

PDT Partners LLC purchased a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,205 shares of the company's stock, valued at approximately $1,452,000.

A number of other institutional investors also recently bought and sold shares of ROAD. Vanguard Group Inc. increased its position in 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Construction Partners by 0.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,079 shares of the company's stock worth $186,293,000 after purchasing an additional 12,808 shares in the last quarter. Bank of America Corp DE grew 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 worth $98,991,000 after purchasing an additional 28,723 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position 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 worth $62,724,000 after purchasing an additional 240,496 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its position in shares of Construction Partners by 10.3% during the first quarter. Driehaus Capital Management LLC now owns 828,846 shares of the company's stock worth $59,569,000 after purchasing an additional 77,641 shares in the last quarter. Institutional investors own 94.83% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on ROAD. Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Baird R W upgraded 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 target price on Construction Partners and gave the company an "outperform" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Construction Partners has a consensus rating of "Buy" and a consensus target price of $112.33.

Construction Partners Price Performance

Shares of ROAD stock traded up $1.02 during trading hours on Friday, reaching $122.46. The company had a trading volume of 308,316 shares, compared to its average volume of 562,364. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The stock has a fifty day moving average of $109.22 and a 200-day moving average of $94.45. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 89.39, a PEG ratio of 1.57 and a beta of 0.99. Construction Partners, Inc. has a 12-month low of $56.56 and a 12-month 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 the consensus estimate of $0.87 by ($0.06). The firm had revenue of $779.28 million for the quarter, compared to analysts' expectations of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The company's quarterly revenue was up 50.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share 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.