Vanguard Group Inc. Has $263.50 Million Stock Holdings in Construction Partners, Inc. $ROAD

Key Points

• Vanguard Group Inc. increased its holdings in Construction Partners, Inc. by 5.0%, acquiring an additional 173,963 shares, bringing its total ownership to 3,666,331 shares valued at approximately $263 million.
• Research firms have recently upgraded Construction Partners, with Robert W. Baird setting a price target of $122 and giving the company an "outperform" rating.
• Despite reporting a quarterly EPS of $0.81, which was below estimates, Construction Partners' revenue grew by 50.5% year-over-year, totaling $779.28 million.

Vanguard Group Inc. lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,666,331 shares of the company's stock after acquiring an additional 173,963 shares during the quarter. Vanguard Group Inc. owned 6.56% of Construction Partners worth $263,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Manchester Capital Management LLC boosted its position in shares of Construction Partners by 9.2% in the 1st 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. Nicolet Advisory Services LLC boosted its holdings in shares of Construction Partners by 10.5% in the first quarter. Nicolet Advisory Services LLC now owns 3,035 shares of the company's stock worth $237,000 after buying an additional 288 shares during the period. 12th Street Asset Management Company LLC boosted its holdings in shares of Construction Partners by 1.5% in the first quarter. 12th Street Asset Management Company LLC now owns 63,619 shares of the company's stock worth $4,572,000 after buying an additional 962 shares during the period. Summit Creek Advisors LLC increased its position in shares of Construction Partners by 10.5% in the first quarter. Summit Creek Advisors LLC now owns 255,978 shares of the company's stock worth $18,397,000 after acquiring an additional 24,401 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Construction Partners by 16.3% during the first quarter. LPL Financial LLC now owns 45,371 shares of the company's stock valued at $3,261,000 after acquiring an additional 6,365 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Construction Partners Stock Performance

Construction Partners stock traded up $1.20 during trading hours on Thursday, reaching $115.98. 581,974 shares of the company were exchanged, compared to its average volume of 564,692. Construction Partners, Inc. has a 12 month low of $56.52 and a 12 month high of $119.99. 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 stock has a 50-day moving average of $105.71 and a 200 day moving average of $91.10. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 84.66, a PEG ratio of 1.43 and a beta of 1.00.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $779.28 million during 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 quarterly revenue was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share 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.