Sterling Infrastructure, Inc. $STRL Shares Sold by Seizert Capital Partners LLC

Seizert Capital Partners LLC cut its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 33.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,970 shares of the construction company’s stock after selling 8,661 shares during the quarter. Seizert Capital Partners LLC’s holdings in Sterling Infrastructure were worth $5,764,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. acquired a new position in Sterling Infrastructure in the second quarter valued at $19,761,000. Vontobel Holding Ltd. acquired a new position in Sterling Infrastructure in the 2nd quarter valued at about $305,000. New York State Teachers Retirement System raised its stake in Sterling Infrastructure by 549.9% during 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 acquiring an additional 14,909 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Sterling Infrastructure by 8.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,623 shares of the construction company’s stock valued at $28,293,000 after acquiring an additional 9,374 shares during the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new stake in Sterling Infrastructure during the 2nd quarter worth approximately $35,931,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Down 2.7%

Shares of NASDAQ STRL opened at $341.38 on Tuesday. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 2.06 and a beta of 1.50. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $419.14. The firm has a 50-day moving average price of $324.55 and a 200 day moving average price of $316.01. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, November 3rd. The construction company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.69. The firm had revenue of $689.02 million during the quarter, compared to the consensus estimate of $618.80 million. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%. Equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure declared that its board has authorized a stock buyback plan on Wednesday, November 12th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

STRL has been the subject of several analyst reports. DA Davidson upped their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings downgraded shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Sterling Infrastructure presently has an average rating of “Hold” and a consensus price target of $460.00.

Sterling Infrastructure Profile

Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.

The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.