Zimmer Partners LP Acquires New Stake in Construction Partners, Inc. $ROAD

Zimmer Partners LP acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the first quarter, according to its most recent filing with the SEC. The firm acquired 140,000 shares of the company’s stock, valued at approximately $10,062,000. Zimmer Partners LP owned about 0.25% of Construction Partners at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Construction Partners by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company’s stock worth $263,499,000 after purchasing an additional 173,963 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Construction Partners by 0.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,079 shares of the company’s stock worth $186,293,000 after purchasing an additional 12,808 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Construction Partners by 39.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company’s stock worth $62,724,000 after purchasing an additional 240,496 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of Construction Partners by 10.3% during the 1st quarter. Driehaus Capital Management LLC now owns 828,846 shares of the company’s stock worth $59,569,000 after purchasing an additional 77,641 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Construction Partners by 10.9% during the 1st quarter. Ameriprise Financial Inc. now owns 792,993 shares of the company’s stock worth $56,992,000 after purchasing an additional 78,042 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ROAD. 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. Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Construction Partners in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $112.33.

Construction Partners Trading Up 0.8%

NASDAQ:ROAD opened at $123.48 on Tuesday. The company has a market capitalization of $6.93 billion, a PE ratio of 90.13, a price-to-earnings-growth ratio of 1.57 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 52-week low of $56.80 and a 52-week high of $124.12. The stock has a fifty day simple moving average of $109.57 and a 200-day simple moving average of $94.93.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results 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). The firm had revenue of $779.28 million for 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%.The company’s quarterly revenue was up 50.5% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal 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.