Construction Partners, Inc. $ROAD Stock Holdings Lessened by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its holdings in Construction Partners, Inc. by 17.0%, now owning approximately 399,171 shares valued at $28.69 million.
• Several hedge funds, including Vanguard Group Inc. and Artemis Investment Management LLP, have increased their investments in Construction Partners, indicating strong interest from institutional investors.
• Construction Partners recently missed earnings estimates, reporting $0.81 EPS against a consensus of $0.87, with revenues of $779.28 million for the quarter.

Raymond James Financial Inc. decreased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 399,171 shares of the company's stock after selling 81,582 shares during the period. Raymond James Financial Inc. owned 0.71% of Construction Partners worth $28,688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Manchester Capital Management LLC raised its stake in Construction Partners by 9.2% during the first quarter. Manchester Capital Management LLC now owns 1,461 shares of the company's stock worth $105,000 after purchasing an additional 123 shares during the period. Amalgamated Bank raised its stake in Construction Partners by 8.8% during the first quarter. Amalgamated Bank now owns 1,593 shares of the company's stock worth $114,000 after purchasing an additional 129 shares during the period. ANB Bank raised its stake in Construction Partners by 4.2% during the first quarter. ANB Bank now owns 4,105 shares of the company's stock worth $295,000 after purchasing an additional 164 shares during the period. Stephens Inc. AR raised its stake in Construction Partners by 2.3% during the first quarter. Stephens Inc. AR now owns 8,498 shares of the company's stock worth $611,000 after purchasing an additional 187 shares during the period. Finally, Nicolet Advisory Services LLC raised its stake in Construction Partners by 10.5% during the first quarter. Nicolet Advisory Services LLC now owns 3,035 shares of the company's stock worth $237,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Stock Up 0.2%

ROAD traded up $0.19 during trading hours on Thursday, reaching $121.47. 347,956 shares of the stock traded hands, compared to its average volume of 562,098. The firm's fifty day simple moving average is $107.30 and its two-hundred day simple moving average is $92.39. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 88.66, a PEG ratio of 1.57 and a beta of 1.00. Construction Partners, Inc. has a fifty-two week low of $56.52 and a fifty-two week high of $124.12. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data 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 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 business earned $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. As a group, analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.