California State Teachers Retirement System Acquires 10,759 Shares of Construction Partners, Inc. $ROAD

California State Teachers Retirement System boosted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 23.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,972 shares of the company’s stock after buying an additional 10,759 shares during the period. California State Teachers Retirement System’s holdings in Construction Partners were worth $6,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NFSG Corp increased its position in Construction Partners by 8.7% during the 1st quarter. NFSG Corp now owns 1,251 shares of the company’s stock valued at $139,000 after buying an additional 100 shares in the last quarter. ANB Bank grew its stake in shares of Construction Partners by 3.4% in the first quarter. ANB Bank now owns 4,258 shares of the company’s stock worth $473,000 after acquiring an additional 140 shares during the period. The Manufacturers Life Insurance Company grew its position in Construction Partners by 0.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 23,151 shares of the company’s stock worth $2,573,000 after purchasing an additional 149 shares during the period. &PARTNERS increased its position in Construction Partners by 2.5% during the fourth quarter. &PARTNERS now owns 6,899 shares of the company’s stock valued at $749,000 after acquiring an additional 167 shares during the last quarter. Finally, Morse Asset Management Inc increased its position in shares of Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after purchasing an additional 180 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ROAD shares. Raymond James Financial lowered their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 15th. Robert W. Baird dropped their price objective on Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Truist Financial began coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price on the stock. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.17.

Construction Partners Trading Down 1.5%

Shares of ROAD opened at $105.07 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 46.08, a PEG ratio of 0.90 and a beta of 0.89. The company has a 50-day moving average of $109.92 and a 200 day moving average of $116.61. Construction Partners, Inc. has a 1-year low of $93.22 and a 1-year high of $151.00.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.23. The company had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. Construction Partners’s revenue was up 34.6% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. On average, research analysts expect that Construction Partners, Inc. will post 2.91 EPS for the current year.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.