Bessemer Group Inc. Has $29.57 Million Stake in Construction Partners, Inc. $ROAD

Bessemer Group Inc. lowered its position in Construction Partners, Inc. (NASDAQ:ROAD) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,096 shares of the company’s stock after selling 6,543 shares during the period. Bessemer Group Inc. owned 0.47% of Construction Partners worth $29,569,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in Construction Partners by 19.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock valued at $109,214,000 after purchasing an additional 156,469 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Construction Partners by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 579,757 shares of the company’s stock worth $64,423,000 after purchasing an additional 17,851 shares in the last quarter. NFSG Corp grew its holdings in shares of Construction Partners by 8.7% during the first quarter. NFSG Corp now owns 1,251 shares of the company’s stock worth $139,000 after purchasing an additional 100 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Construction Partners by 3,714.3% during the first quarter. Hillsdale Investment Management Inc. now owns 2,670 shares of the company’s stock worth $297,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Carnegie Investment Counsel increased its stake in shares of Construction Partners by 20.9% in the first quarter. Carnegie Investment Counsel now owns 2,662 shares of the company’s stock valued at $296,000 after buying an additional 461 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Trading Up 2.0%

Shares of ROAD opened at $104.47 on Friday. The stock’s fifty day simple moving average is $113.53 and its 200-day simple moving average is $117.32. The firm has a market capitalization of $5.91 billion, a PE ratio of 45.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.88. Construction Partners, Inc. has a 12-month low of $93.22 and a 12-month high of $151.00. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. The firm had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company’s revenue was up 34.6% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. As a group, research analysts predict that Construction Partners, Inc. will post 2.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. Robert W. Baird lowered their price objective on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Truist Financial began coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price for the company. Raymond James Financial reduced their target price on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.17.

About Construction Partners

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.