Teacher Retirement System of Texas Cuts Stock Position in Sterling Infrastructure, Inc. $STRL

Teacher Retirement System of Texas trimmed its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 45.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,572 shares of the construction company’s stock after selling 25,959 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sterling Infrastructure were worth $10,724,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its holdings in Sterling Infrastructure by 16.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock worth $68,000 after acquiring an additional 41 shares in the last quarter. Richardson Financial Services Inc. grew its position in shares of Sterling Infrastructure by 22.6% in the third quarter. Richardson Financial Services Inc. now owns 233 shares of the construction company’s stock valued at $79,000 after purchasing an additional 43 shares during the period. Private Trust Co. NA increased its stake in shares of Sterling Infrastructure by 9.4% during the second quarter. Private Trust Co. NA now owns 591 shares of the construction company’s stock worth $136,000 after purchasing an additional 51 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Sterling Infrastructure by 54.8% during the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Finally, Convergence Investment Partners LLC lifted its stake in Sterling Infrastructure by 1.1% in the 2nd quarter. Convergence Investment Partners LLC now owns 5,774 shares of the construction company’s stock valued at $1,332,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dwayne Andree Wilson sold 2,860 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the transaction, 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. Insiders own 2.70% of the company’s stock.

Sterling Infrastructure Trading Down 3.5%

Shares of Sterling Infrastructure stock opened at $351.39 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $324.56 and its 200-day simple moving average is $319.49. The stock has a market cap of $10.79 billion, a P/E ratio of 34.45, a P/E/G ratio of 2.06 and a beta of 1.50. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Monday, November 3rd. The construction company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.69. The firm had revenue of $689.02 million for 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%. Analysts predict that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure declared that its board has authorized a stock repurchase 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 purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have commented on STRL. Weiss Ratings lowered Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson increased their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald began coverage on Sterling Infrastructure in a report on Friday. They issued an “overweight” rating and a $413.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Sterling Infrastructure has an average rating of “Moderate Buy” and a consensus price target of $436.50.

About Sterling Infrastructure

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.