Bessemer Group Inc. Buys 28,349 Shares of Construction Partners, Inc. $ROAD

Bessemer Group Inc. raised its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 11.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 272,639 shares of the company’s stock after acquiring an additional 28,349 shares during the period. Bessemer Group Inc.’s holdings in Construction Partners were worth $29,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of ROAD. MAI Capital Management grew its position in shares of Construction Partners by 21.7% during the 3rd quarter. MAI Capital Management now owns 505 shares of the company’s stock worth $64,000 after buying an additional 90 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Construction Partners by 3.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,248 shares of the company’s stock worth $666,000 after buying an additional 152 shares during the period. AlphaQuest LLC grew its position in shares of Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the period. Arizona State Retirement System grew its position in shares of Construction Partners by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 13,938 shares of the company’s stock worth $1,770,000 after buying an additional 176 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Construction Partners by 13.9% during the 4th quarter. GAMMA Investing LLC now owns 1,467 shares of the company’s stock worth $159,000 after buying an additional 179 shares during the period. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Performance

Shares of ROAD opened at $118.05 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.26 and a current ratio of 1.53. Construction Partners, Inc. has a twelve month low of $93.22 and a twelve month high of $151.00. The firm’s 50 day moving average price is $118.33 and its two-hundred day moving average price is $116.41. The firm has a market cap of $6.67 billion, a P/E ratio of 51.78, a PEG ratio of 0.98 and a beta of 0.92.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $678.46 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The business’s revenue was up 34.6% on a year-over-year basis. On average, analysts forecast that Construction Partners, Inc. will post 2.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, April 21st. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Raymond James Financial reissued a “strong-buy” rating and set a $140.00 price objective on shares of Construction Partners in a research note on Monday, April 27th. DA Davidson lifted their price objective on shares of Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Finally, B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and a consensus target price of $137.80.

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.