Oregon Public Employees Retirement Fund Makes New Investment in Construction Partners, Inc. $ROAD

Oregon Public Employees Retirement Fund purchased a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 10,848 shares of the company’s stock, valued at approximately $977,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC purchased a new stake in shares of Construction Partners during the 3rd quarter worth approximately $42,000. Profund Advisors LLC purchased a new position in shares of Construction Partners during the 3rd quarter worth about $201,000. ProShare Advisors LLC boosted its position in shares of Construction Partners by 4.7% in the third quarter. ProShare Advisors LLC now owns 6,633 shares of the company’s stock worth $597,000 after acquiring an additional 297 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Construction Partners by 18.8% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 3,800 shares of the company’s stock worth $342,000 after purchasing an additional 600 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its position in Construction Partners by 1,586.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,231 shares of the company’s stock worth $111,000 after purchasing an additional 1,158 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Up 10.5%

Shares of NASDAQ ROAD opened at $85.30 on Tuesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.26 and a current ratio of 1.57. Construction Partners, Inc. has a 1 year low of $74.51 and a 1 year high of $151.00. The stock’s 50-day simple moving average is $91.25 and its 200-day simple moving average is $110.20. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 0.74 and a beta of 0.94.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%. The firm had revenue of $999.42 million during the quarter, compared to analyst estimates of $948.77 million. During the same quarter last year, the firm earned $0.81 EPS. Construction Partners’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, equities analysts anticipate that Construction Partners, Inc. will post 2.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on ROAD shares. Truist Financial dropped their price objective on Construction Partners from $130.00 to $90.00 and set a “hold” rating for the company in a report on Friday. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Robert W. Baird decreased their target price on Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, B. Riley Financial decreased their price objective on shares of Construction Partners from $135.00 to $100.00 and set a “buy” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Construction Partners Profile

Construction Partners, Inc is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers.

The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.

Founded in 2007 and headquartered in Dothan, Alabama, Construction Partners operates across the southeastern United States and in Texas.