Maryland State Retirement & Pension System Trims Stock Holdings in Sterling Infrastructure, Inc. $STRL

Maryland State Retirement & Pension System lowered its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 51.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,373 shares of the construction company’s stock after selling 4,565 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sterling Infrastructure were worth $1,485,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in STRL. Empowered Funds LLC purchased a new stake in Sterling Infrastructure in the 1st quarter valued at about $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Sterling Infrastructure by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 83,983 shares of the construction company’s stock valued at $9,508,000 after acquiring an additional 9,625 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Sterling Infrastructure by 13.7% during the first quarter. Focus Partners Wealth now owns 2,313 shares of the construction company’s stock valued at $262,000 after acquiring an additional 279 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sterling Infrastructure by 9.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,251 shares of the construction company’s stock valued at $1,243,000 after purchasing an additional 447 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Sterling Infrastructure by 67.7% in the second quarter. Farther Finance Advisors LLC now owns 1,746 shares of the construction company’s stock worth $403,000 after purchasing an additional 705 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the completion of the sale, the director owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. The trade was a 16.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by company insiders.

Sterling Infrastructure Price Performance

Shares of STRL stock opened at $349.59 on Wednesday. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $419.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.06 and a beta of 1.50. The stock’s 50-day simple moving average is $323.91 and its 200-day simple moving average is $316.81.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, November 3rd. The construction company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.69. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The company had revenue of $689.02 million during the quarter, compared to analysts’ expectations of $618.80 million. As a group, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure announced that its Board of Directors has approved a share buyback plan on Wednesday, November 12th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Company 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.