What smart money is saying about Construction Partners
2 funds in our archive have pitched Construction Partners, most recently TimesSquare Global Small Cap in September 2026.
Construction Partners, Inc., a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments. It also engages in manufacturing and distributing hot mix asphalt (HMA) for internal use and sales to third parties in connection with construction projects; and paving activities, including the construction of roadway base layers and application of asphalt pavement. In addition, the company is involved in site development, including the installation of utility and drainage systems; mining aggregates, such as sand, gravel, and construction stones that are used as raw materials in the production of HMA; and distributing liquid asphalt cement for internal use and sales to third parties in connection with HMA production. The company was formerly known as SunTx CPI Growth Company, Inc. and changed its name to Construction Partners, Inc. in September 2017. Construction Partners, Inc. was incorporated in 2007 and is headquartered in Dothan, Alabama.
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Position history
Between Q1 2025 and Q3 2026, 5 fund letters reported a position in Construction Partners, with 1 buy (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 1 | 0 | 1 |
| Q4 2025 | 1 | 0 | 0 | 0 |
| Q3 2025 | 1 | 0 | 0 | 0 |
| Q2 2025 | 1 | 0 | 0 | 0 |
| Q1 2025 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 5 positions · 1 move
- New positionTimesSquare Global Small CapSeptember 2026
“Construction Partners (U.S.)”
Construction Partners - September 2026
“4. Construction Partners, Inc. (ROAD) ROAD provides road construction and maintenance services across high growth Sunbelt markets.”
Construction Partners - December 2025
Listed in Wasatch Small Cap Growth Fund’s reported holdings.
Construction Partners - HoldsConestogaSeptember 2025
“Construction Partners, Inc. (ROAD) ROAD provides road construction and maintenance services, including paving, grading, and site development.”
Construction Partners - June 2025
“Contributors • Sterling Infrastructure, Kratos Defense & Security Solutions and Construction Partners were the top individual contributors to performance. • Sterling Infrastructure is an infrastructure services business that specializes in transportation, e-infrastructure, and building solutions in the United States. The stock recovered after a sharp selloff in the first quarter on the news of DeepSeek’s AI offering. The company had a solid Q1 report, and its data center business is booming. Backlog growth inflected higher, and management spoke confidently about its visibility for the next few years. • Kratos Defense & Security Solutions is a leader in both hardware and software solutions supporting space exploration and monitoring and has a high growth target drone business with the US government as its main customer. This company also has a potentially even larger opportunity with its tactical drone offering, which we believe should continue to draw attention from the US military. • Construction Partners provides road building and paving services in the south/southeast region of the country. The company has been able to grow revenue in the mid-teens range through a combination of organic growth and M&A. This name outperformed during the quarter with a large M&A deal in Texas as well as other deals in existing markets that have accelerated revenue growth, all of which have led to higher revisions. Detractors • Grid Dynamics, Clearwater Analytics Holdings and Merit Medical Systems were the largest individual detractors from performance. • Grid Dynamics struggled during the period mainly due to the guidance that the company gave in February, which was viewed by analysts as being overly aggressive. The company did not raise guidance for the fiscal year in May, breaking a three-quarter trend of ‘beat and raise’ reports. These dynamics along with broader pressures in the IT Service industry with companies cutting guidance have added to fears of potential earnings cut, which has exacerbated selling pressures on the stock. • Clearwater Analytics Holdings provides cloud native software in investment lifecycle management for the insurance and asset management industry. Earlier this year, the company made three acquisitions and is currently in the midst of integrating these acquisitions. The uncertainty around interest rates post-election also weighed on the stock. • Merit Medical Systems is a medical device manufacturer that is focused on interventional cardiology and radiology. Tariff and trade policy concerns during the quarter negatively impacted the stock given that approximately 40% of the company’s revenues are ex-US and the fact that the company has been shifting more manufacturing to lower cost jurisdictions outside the US. Outlook • As we write this, volatility has decreased by many measures. The VIX index, which measures stock market volatility, has retreated to below average levels, as has the MOVE index, which measures bond market volatility. While the US Economic Policy Uncertainty Index has come in from the very high levels of April, it is still quite high when compared to TOP TEN EQUITY HOLDINGS (%) Sterling Infrastructure, Inc. 2.1 Kratos Defense & Security Solutions, Inc. 2.0 ESCO Technologies Inc. 2.0 MACOM Technology Solutions Holdings, Inc. 2.0 Construction Partners, Inc. 1.8”
Construction Partners
Fund coverage · 2 theses
- TimesSquare Global Small CapSeptember 2026
Construction Partners is an infrastructure contractor with consolidation, vertical integration, and inflation-protected contracts that should support margin expansion.
Read the full thesis - Polen US Smid Company GrowthMarch 2025
Construction Partners is a leading paving operator in the Southeast U.S. with strong management, vertical integration advantages, and significant growth potential through acquisitions and infrastructure projects.
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