Public Employees Retirement System of Ohio Decreases Holdings in Construction Partners, Inc. $ROAD

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Construction Partners, Inc. by 34.3%, selling 20,226 shares and now owning only 38,808 shares valued at $4.12 million.
• Analysts are generally positive on Construction Partners, with Robert W. Baird setting a target price of $122.00 and upgrading the stock to a "strong-buy" rating.
• Construction Partners reported $0.81 EPS for the last quarter, falling short of estimates, and had a revenue of $779.28 million, which was also below analyst expectations.

Public Employees Retirement System of Ohio cut its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 34.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,808 shares of the company's stock after selling 20,226 shares during the quarter. Public Employees Retirement System of Ohio owned 0.07% of Construction Partners worth $4,125,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in shares of Construction Partners during the first quarter worth approximately $491,000. Asset Management One Co. Ltd. increased its stake in shares of Construction Partners by 15.5% in 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 period. LPL Financial LLC increased its stake in shares of Construction Partners by 16.3% in the first quarter. LPL Financial LLC now owns 45,371 shares of the company's stock worth $3,261,000 after buying an additional 6,365 shares during the period. HWG Holdings LP purchased a new position in shares of Construction Partners in the second quarter worth $2,260,000. Finally, Zimmer Partners LP purchased a new position in shares of Construction Partners in the first quarter worth $10,062,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the stock an "outperform" rating 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 research note on Friday, August 8th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Two investment 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 stock. According to data from MarketBeat.com, Construction Partners has a consensus rating of "Buy" and a consensus price target of $112.33.

Construction Partners Stock Performance

Shares of ROAD stock opened at $127.00 on Wednesday. Construction Partners, Inc. has a 12 month low of $64.79 and a 12 month high of $138.90. The stock has a market cap of $7.12 billion, a PE ratio of 92.70, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. 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's fifty day moving average price is $116.61 and its 200-day moving average price is $101.20.

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

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.

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