Teacher Retirement System of Texas Makes New $491,000 Investment in Construction Partners, Inc. (NASDAQ:ROAD)

Teacher Retirement System of Texas bought a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,836 shares of the company's stock, valued at approximately $491,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Construction Partners by 42.8% during the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after purchasing an additional 1,046,617 shares in the last quarter. Invesco Ltd. boosted its position in shares of Construction Partners by 75.6% during the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock valued at $132,147,000 after purchasing an additional 642,987 shares in the last quarter. FMR LLC boosted its position in shares of Construction Partners by 32.1% during the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock valued at $206,094,000 after purchasing an additional 565,583 shares in the last quarter. Artemis Investment Management LLP boosted its position in shares of Construction Partners by 225.9% during the 1st quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock valued at $50,018,000 after purchasing an additional 482,374 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Construction Partners during the 4th quarter valued at about $42,527,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James Financial reduced their price objective on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th.

Construction Partners Trading Down 4.6%

Shares of ROAD traded down $5.24 during midday trading on Friday, hitting $107.57. The stock had a trading volume of 809,065 shares, compared to its average volume of 477,239. The business has a 50-day simple moving average of $104.65 and a two-hundred day simple moving average of $88.16. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 1.63. The firm has a market cap of $6.03 billion, a P/E ratio of 91.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.96. Construction Partners, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $114.74.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. The business had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The firm's revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, equities analysts forecast that Construction Partners, Inc. will post 1.96 EPS 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.