Bessemer Group Inc. Sells 6,543 Shares of Construction Partners, Inc. $ROAD

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

Several other hedge funds and other institutional investors have also bought and sold shares of the company. NFSG Corp grew its holdings in Construction Partners by 8.7% during the first quarter. NFSG Corp now owns 1,251 shares of the company’s stock valued at $139,000 after purchasing an additional 100 shares during the period. &PARTNERS raised its holdings in Construction Partners by 2.5% in the fourth quarter. &PARTNERS now owns 6,899 shares of the company’s stock worth $749,000 after purchasing an additional 167 shares during the period. GAMMA Investing LLC boosted its position in shares of Construction Partners by 13.9% during the fourth quarter. GAMMA Investing LLC now owns 1,467 shares of the company’s stock worth $159,000 after purchasing an additional 179 shares in the last quarter. Morse Asset Management Inc boosted its position in shares of Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after purchasing an additional 180 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Construction Partners by 6.8% in the 4th quarter. Sanctuary Advisors LLC now owns 3,604 shares of the company’s stock valued at $391,000 after buying an additional 229 shares during the period. Institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ROAD. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. Truist Financial initiated coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price target on the stock. Finally, Robert W. Baird decreased their price objective on Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.17.

Construction Partners Trading Up 2.0%

Shares of NASDAQ:ROAD opened at $104.47 on Friday. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 45.82, a PEG 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’s fifty day simple moving average is $113.53 and its 200 day simple moving average is $117.32. 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 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. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The firm had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. During the same period in the prior year, the business earned $0.08 EPS. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year. As a group, research analysts forecast that Construction Partners, Inc. will post 2.91 EPS for the current fiscal year.

Construction Partners Company 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.