Truist Financial Corp Lowers Stock Holdings in Construction Partners, Inc. $ROAD

Truist Financial Corp lowered its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,853 shares of the company’s stock after selling 479 shares during the quarter. Truist Financial Corp’s holdings in Construction Partners were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Construction Partners by 5.0% during the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company’s stock worth $263,499,000 after purchasing an additional 173,963 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Construction Partners by 0.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,079 shares of the company’s stock worth $186,293,000 after purchasing an additional 12,808 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Construction Partners by 39.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company’s stock worth $62,724,000 after purchasing an additional 240,496 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Construction Partners by 10.3% during the first quarter. Driehaus Capital Management LLC now owns 828,846 shares of the company’s stock worth $59,569,000 after purchasing an additional 77,641 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Construction Partners by 10.9% during the first quarter. Ameriprise Financial Inc. now owns 792,993 shares of the company’s stock worth $56,992,000 after purchasing an additional 78,042 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

NASDAQ:ROAD opened at $116.00 on Thursday. Construction Partners, Inc. has a one year low of $64.79 and a one year high of $138.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The stock has a market cap of $6.51 billion, a PE ratio of 84.67, a P/E/G ratio of 1.07 and a beta of 0.98. The stock has a 50 day moving average price of $121.69 and a 200 day moving average price of $104.67.

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). Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The company had revenue of $779.28 million during the quarter, compared to analyst estimates of $810.47 million. During the same period in the prior year, the business posted $0.59 EPS. Construction Partners’s revenue for the quarter was up 50.5% compared to the same quarter last year. Construction Partners has set its FY 2025 guidance at EPS. Equities research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ROAD has been the topic of a number of recent analyst reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Construction Partners in a research report on Friday, August 8th. Robert W. Baird set a $122.00 target price on Construction Partners and gave the company an “outperform” rating in a research report on Friday, August 8th. Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Construction Partners presently has an average rating of “Buy” and an average price target of $112.33.

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.