Teacher Retirement System of Texas Makes New 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) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 6,836 shares of the company's stock, valued at approximately $491,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ROAD. Versant Capital Management Inc bought a new stake in shares of Construction Partners during the 1st quarter valued at $30,000. Johnson Financial Group Inc. bought a new stake in shares of Construction Partners in the 4th quarter valued at $66,000. Golden State Wealth Management LLC increased its position in shares of Construction Partners by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock valued at $81,000 after buying an additional 563 shares in the last quarter. Amalgamated Bank increased its position in shares of Construction Partners by 8.8% in the 1st quarter. Amalgamated Bank now owns 1,593 shares of the company's stock valued at $114,000 after buying an additional 129 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Construction Partners in the 4th quarter valued at $146,000. Institutional investors own 94.83% of the company's stock.

Wall Street Analyst Weigh In

Separately, Raymond James Financial lowered 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 Up 3.3%

Shares of ROAD traded up $3.64 during trading hours on Thursday, reaching $112.81. The stock had a trading volume of 1,024,842 shares, compared to its average volume of 476,148. The firm has a 50-day moving average of $104.01 and a 200 day moving average of $87.87. The company has a market cap of $6.32 billion, a P/E ratio of 96.42, a P/E/G ratio of 1.32 and a beta of 0.96. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 1.63. Construction Partners, Inc. has a 52 week low of $51.63 and a 52 week high of $114.15.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its 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 firm had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The company's revenue was up 53.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, sell-side analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.