Voya Investment Management LLC Has $20.87 Million Stock Holdings 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 cut its holdings 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 filing with the Securities and Exchange Commission (SEC). The firm owned 290,436 shares of the company's stock after selling 23,364 shares during the period. Voya Investment Management LLC owned about 0.52% of Construction Partners worth $20,874,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ROAD. Montag A & Associates Inc. acquired a new position in shares of Construction Partners in the 1st quarter worth approximately $29,000. Versant Capital Management Inc acquired a new position in shares of Construction Partners in the 1st quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Construction Partners in the 1st quarter worth approximately $60,000. SVB Wealth LLC acquired a new position in shares of Construction Partners in the 1st quarter worth approximately $80,000. Finally, Golden State Wealth Management LLC lifted 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 worth $81,000 after purchasing an additional 563 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 research analysts have recently issued reports on the stock. 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 restated 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 price target on shares of Construction Partners and gave the stock an "outperform" rating in a research report on Friday, August 8th. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $112.33.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $125.20 on Monday. The company has a fifty day moving average of $111.13 and a 200-day moving average of $96.40. The firm has a market capitalization of $7.02 billion, a P/E ratio of 91.39, a P/E/G ratio of 1.60 and a beta of 0.99. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. Construction Partners, Inc. has a twelve month low of $63.71 and a twelve month high of $125.70.

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 for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The business's revenue was up 50.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

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.

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