Washburn Capital Management Inc. Acquires Shares of 900 Sterling Infrastructure, Inc. $STRL

Washburn Capital Management Inc. bought a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 900 shares of the construction company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cookson Peirce & Co. Inc. acquired a new position in Sterling Infrastructure during the 2nd quarter valued at $19,761,000. Ieq Capital LLC raised its stake in Sterling Infrastructure by 94.8% during the 1st quarter. Ieq Capital LLC now owns 8,144 shares of the construction company’s stock valued at $922,000 after purchasing an additional 3,963 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Sterling Infrastructure by 30.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company’s stock valued at $8,882,000 after purchasing an additional 18,254 shares during the last quarter. D.A. Davidson & CO. raised its stake in Sterling Infrastructure by 5.0% during the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company’s stock valued at $274,000 after purchasing an additional 116 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in Sterling Infrastructure by 549.9% in the 2nd quarter. New York State Teachers Retirement System now owns 17,620 shares of the construction company’s stock valued at $4,065,000 after buying an additional 14,909 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Up 3.9%

STRL opened at $392.77 on Tuesday. The firm’s 50-day simple moving average is $337.67 and its 200-day simple moving average is $261.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $409.33. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.98 and a beta of 1.38.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. The business had revenue of $403.58 million for the quarter. Equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. Finally, DA Davidson boosted their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $355.00.

Sterling Infrastructure Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.