Voya Investment Management LLC Lowers Stock Position in Construction Partners, Inc. $ROAD

Key Points

• Voya Investment Management LLC reduced its holdings in Construction Partners, Inc. by 7.4%, owning approximately 290,436 shares valued at about $20.87 million.
• Research analysts have expressed a positive outlook for Construction Partners stock, with Baird R W upgrading it to a "strong-buy" rating and setting a price target of $122.00.
• Despite a year-over-year revenue increase of 50.5%, Construction Partners reported a quarterly earnings miss, with $0.81 EPS compared to the consensus estimate of $0.87.

Voya Investment Management LLC trimmed its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,436 shares of the company's stock after selling 23,364 shares during the period. Voya Investment Management LLC owned 0.52% of Construction Partners worth $20,874,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ROAD. Artemis Investment Management LLP lifted its holdings in Construction Partners by 225.9% during the first 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. Allspring Global Investments Holdings LLC lifted its holdings in Construction Partners by 39.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock valued at $62,724,000 after purchasing an additional 240,496 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Construction Partners by 5.0% during the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock valued at $263,499,000 after purchasing an additional 173,963 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of Construction Partners in the first quarter valued at about $10,062,000. Finally, Nuveen LLC acquired a new stake in shares of Construction Partners in the first quarter valued at about $8,588,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Trading Up 2.2%

Construction Partners stock traded up $2.85 during midday trading on Friday, hitting $133.67. 796,737 shares of the stock were exchanged, compared to its average volume of 386,185. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $135.32. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 97.57, a PEG ratio of 1.68 and a beta of 0.99. The stock's 50-day simple moving average is $113.47 and its 200 day simple moving average is $98.05. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The firm had revenue of $779.28 million for the quarter, compared to analyst estimates of $810.47 million. During the same quarter in the previous year, the business posted $0.59 earnings per share. Construction Partners's revenue for the quarter was up 50.5% on a year-over-year basis. Construction Partners has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ROAD shares. Baird R W upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Raymond James Financial reiterated a "strong-buy" rating on shares of Construction Partners in a research report on Friday, August 8th. Finally, Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the company an "outperform" rating in a research 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $112.33.

Construction Partners 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.