Royal Bank of Canada Has $10.29 Million Stake in Construction Partners, Inc. $ROAD

Key Points

• Royal Bank of Canada reduced its stake in Construction Partners, Inc. by 13.8% in Q1, holding approximately $10.29 million in shares after selling 23,021 shares.
• Construction Partners reported quarterly earnings of $0.81 EPS, missing estimates and generating $779.28 million in revenue, marking a 50.5% increase year-over-year.
• Analyst ratings for Construction Partners are generally optimistic, with a consensus rating of "Buy" and a target price of $112.33.

Royal Bank of Canada decreased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,237 shares of the company's stock after selling 23,021 shares during the quarter. Royal Bank of Canada owned about 0.26% of Construction Partners worth $10,294,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC grew its holdings in Construction Partners by 9.2% during the first quarter. Manchester Capital Management LLC now owns 1,461 shares of the company's stock valued at $105,000 after purchasing an additional 123 shares during the period. Amalgamated Bank raised its position in shares of 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 position in shares of 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 position in shares of 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 position in shares of 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. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Stock Up 0.8%

Construction Partners stock opened at $124.91 on Friday. The stock has a market capitalization of $7.01 billion, a PE ratio of 91.18, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. Construction Partners, Inc. has a twelve month low of $61.31 and a twelve month high of $125.68. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. The company has a 50 day moving average of $110.68 and a 200-day moving average of $95.68.

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

Analyst Ratings Changes

Several research firms have recently weighed in on ROAD. Raymond James Financial reiterated a "strong-buy" rating on shares of Construction Partners in a report on Friday, August 8th. Baird R W upgraded 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 target on shares of Construction Partners and gave the company an "outperform" 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 given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus 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.

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