Fifth Third Bancorp Purchases 239,017 Shares of Construction Partners, Inc. $ROAD

Fifth Third Bancorp raised its position in Construction Partners, Inc. (NASDAQ:ROAD) by 30,525.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 239,800 shares of the company’s stock after purchasing an additional 239,017 shares during the period. Fifth Third Bancorp owned 0.42% of Construction Partners worth $26,647,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Kestra Advisory Services LLC boosted its position in Construction Partners by 66.6% during the first quarter. Kestra Advisory Services LLC now owns 3,630 shares of the company’s stock valued at $403,000 after acquiring an additional 1,451 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Construction Partners by 3.1% during the 1st quarter. Stephens Inc. AR now owns 9,305 shares of the company’s stock valued at $1,034,000 after purchasing an additional 282 shares in the last quarter. Strs Ohio grew its stake in Construction Partners by 8.1% during the first quarter. Strs Ohio now owns 4,000 shares of the company’s stock worth $444,000 after purchasing an additional 300 shares during the period. Harbor Investment Advisory LLC acquired a new stake in Construction Partners during the first quarter worth approximately $39,000. Finally, Pictet Asset Management Holding SA increased its holdings in Construction Partners by 6.4% in the first quarter. Pictet Asset Management Holding SA now owns 7,415 shares of the company’s stock worth $824,000 after purchasing an additional 446 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ROAD. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Robert W. Baird reduced 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 assumed coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $140.00 target price on shares of Construction Partners in a research note on Monday, April 27th. Finally, Zacks Research upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Construction Partners Trading Down 1.5%

Shares of Construction Partners stock opened at $93.51 on Tuesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. Construction Partners, Inc. has a 52 week low of $93.22 and a 52 week high of $151.00. The stock has a 50 day moving average price of $116.13 and a two-hundred day moving average price of $117.64. The stock has a market capitalization of $5.29 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 0.79 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. The company had revenue of $769.20 million for 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%.Construction Partners’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. As a group, equities analysts anticipate that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

Construction Partners Profile

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.