Public Employees Retirement System of Ohio Buys 63,587 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Public Employees Retirement System of Ohio boosted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 14,321.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,031 shares of the company’s stock after buying an additional 63,587 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.12% of Construction Partners worth $3,595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROAD. Vanguard Group Inc. lifted its holdings in Construction Partners by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,290,486 shares of the company’s stock valued at $83,740,000 after buying an additional 181,017 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Construction Partners by 44.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 48,518 shares of the company’s stock valued at $2,112,000 after purchasing an additional 14,936 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Construction Partners in the 4th quarter valued at about $769,000. Arizona State Retirement System raised its holdings in shares of Construction Partners by 3.7% in the 4th quarter. Arizona State Retirement System now owns 12,225 shares of the company’s stock valued at $532,000 after purchasing an additional 439 shares in the last quarter. Finally, Moody Aldrich Partners LLC bought a new stake in shares of Construction Partners in the 4th quarter valued at about $4,282,000. Institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their price target on shares of Construction Partners from $50.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Construction Partners has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Construction Partners Stock Down 8.5 %

Shares of Construction Partners stock opened at $59.13 on Friday. The firm’s 50 day moving average price is $57.48 and its 200-day moving average price is $53.12. The company has a quick ratio of 1.28, a current ratio of 1.64 and a debt-to-equity ratio of 0.81. Construction Partners, Inc. has a 52-week low of $29.11 and a 52-week high of $66.78. The company has a market cap of $3.12 billion, a P/E ratio of 50.54, a PEG ratio of 1.53 and a beta of 0.66.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, May 10th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The company had revenue of $371.43 million for the quarter, compared to the consensus estimate of $363.12 million. Construction Partners had a net margin of 3.68% and a return on equity of 12.00%. Construction Partners’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. On average, sell-side analysts predict that Construction Partners, Inc. will post 1.4 EPS for the current fiscal year.

Construction Partners Company Profile

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.