Bessemer Group Inc. Raises Stock Holdings in Construction Partners, Inc. $ROAD

Bessemer Group Inc. boosted its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 18.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 290,506 shares of the company’s stock after purchasing an additional 45,384 shares during the period. Bessemer Group Inc. owned about 0.52% of Construction Partners worth $30,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its holdings in Construction Partners by 29.7% in the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $79,000 after purchasing an additional 170 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Construction Partners by 2,750.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock valued at $30,000 after purchasing an additional 275 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Construction Partners by 30.1% in the second quarter. Asset Management One Co. Ltd. now owns 99,022 shares of the company’s stock valued at $10,523,000 after purchasing an additional 22,903 shares during the last quarter. Carnegie Investment Counsel purchased a new position in Construction Partners in the second quarter valued at about $234,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Construction Partners by 88.9% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company’s stock worth $45,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Down 1.0%

Shares of Construction Partners stock opened at $116.86 on Tuesday. 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 business’s 50 day simple moving average is $122.65 and its 200-day simple moving average is $107.62. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 85.30, a PEG ratio of 1.04 and a beta of 0.98. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $138.90.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results 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 company 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 firm’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. Equities research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

ROAD has been the topic of a number of research analyst reports. Baird R W raised Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Robert W. Baird set a $122.00 target price on Construction Partners and gave the stock an “outperform” rating in a report on Friday, August 8th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a report on Wednesday, October 8th. Finally, Zacks Research raised Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $125.67.

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.