Fifth Third Bancorp Has $130,000 Holdings in Construction Partners, Inc. $ROAD

Fifth Third Bancorp trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 12.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,225 shares of the company’s stock after selling 172 shares during the period. Fifth Third Bancorp’s holdings in Construction Partners were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sheets Smith Wealth Management acquired a new position in shares of Construction Partners in the second quarter valued at about $670,000. GAMMA Investing LLC increased its position in Construction Partners by 33.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,164 shares of the company’s stock valued at $124,000 after purchasing an additional 293 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Construction Partners in the 2nd quarter valued at $344,000. Longboard Asset Management LP acquired a new stake in Construction Partners in the 2nd quarter valued at $246,000. Finally, HWG Holdings LP acquired a new stake in Construction Partners in the 2nd quarter valued at $2,260,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Down 1.8%

Shares of ROAD opened at $124.76 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. Construction Partners, Inc. has a 1 year low of $64.79 and a 1 year high of $138.90. The stock has a 50 day simple moving average of $117.02 and a two-hundred day simple moving average of $101.36. The firm has a market cap of $7.00 billion, a P/E ratio of 91.07, a P/E/G ratio of 1.63 and a beta of 0.98.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The business’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 firm posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. On average, analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ROAD shares. Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Robert W. Baird set a $122.00 price target on Construction Partners and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Construction Partners in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $112.33.

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.