Fifth Third Bancorp Increases Stock Holdings in Construction Partners, Inc. $ROAD

Fifth Third Bancorp increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 30,525.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 239,800 shares of the company’s stock after acquiring an additional 239,017 shares during the quarter. Fifth Third Bancorp’s holdings in Construction Partners were worth $26,647,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. &PARTNERS boosted its holdings in Construction Partners by 2.5% during the 4th quarter. &PARTNERS now owns 6,899 shares of the company’s stock worth $749,000 after acquiring an additional 167 shares during the last quarter. GAMMA Investing LLC boosted its holdings in 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 during the last quarter. Morse Asset Management Inc grew its position in Construction Partners by 300.0% in the 3rd 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. Sanctuary Advisors LLC grew its position in Construction Partners by 6.8% in the 4th quarter. Sanctuary Advisors LLC now owns 3,604 shares of the company’s stock worth $391,000 after purchasing an additional 229 shares in the last quarter. Finally, Caldwell Trust Co increased its stake in Construction Partners by 17.6% in the 4th quarter. Caldwell Trust Co now owns 1,587 shares of the company’s stock valued at $172,000 after buying an additional 237 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Stock Down 1.5%

Construction Partners stock opened at $93.51 on Tuesday. The firm has a 50 day moving average price of $116.13 and a 200-day moving average price of $117.64. 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, Inc. has a twelve month low of $93.22 and a twelve month high of $151.00. The company has a market capitalization of $5.29 billion, a P/E ratio of 41.01, a P/E/G ratio of 0.79 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS 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 company had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter in the previous year, the firm posted $0.08 EPS. Construction Partners’s revenue was up 34.6% on a year-over-year basis. As a group, equities analysts predict that Construction Partners, Inc. will post 2.95 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on ROAD. Zacks Research raised shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Truist Financial started coverage on Construction Partners in a report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price for the company. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $140.00 price objective on shares of Construction Partners in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

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.