Reliant Investment Partners LLC Grows Stake in Construction Partners, Inc. $ROAD

Reliant Investment Partners LLC raised its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,070 shares of the company’s stock after purchasing an additional 745 shares during the period. Construction Partners accounts for approximately 0.9% of Reliant Investment Partners LLC’s investment portfolio, making the stock its 23rd biggest holding. Reliant Investment Partners LLC’s holdings in Construction Partners were worth $1,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ROAD. Montag A & Associates Inc. acquired a new stake in shares of Construction Partners in the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its stake 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 buying an additional 275 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in Construction Partners by 88.9% in the second quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company’s stock worth $45,000 after acquiring an additional 200 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Construction Partners during the first quarter worth about $60,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Construction Partners by 29.7% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $79,000 after acquiring an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Down 1.0%

NASDAQ:ROAD opened at $116.86 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. The company’s fifty day moving average price is $122.65 and its 200-day moving average price is $107.62. Construction Partners, Inc. has a 1-year low of $64.79 and a 1-year high of $138.90. The firm has a market capitalization of $6.55 billion, a P/E ratio of 85.30, a PEG ratio of 1.04 and a beta of 0.98.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $779.28 million during the quarter, compared to analysts’ expectations of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. Construction Partners’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ROAD. Baird R W upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. DA Davidson lifted their price objective on shares of Construction Partners from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the company an “outperform” rating in a report on Friday, August 8th. Raymond James Financial reissued a “strong-buy” rating and issued a $135.00 target price (up from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Construction Partners presently has an average rating of “Buy” and a consensus price target of $125.67.

About Construction Partners

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.