Nordea Investment Management AB Increases Stock Holdings in Sterling Infrastructure, Inc. $STRL

Nordea Investment Management AB boosted its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,115 shares of the construction company’s stock after buying an additional 1,798 shares during the period. Nordea Investment Management AB’s holdings in Sterling Infrastructure were worth $15,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in STRL. Prosperitas Financial LLC purchased a new position in shares of Sterling Infrastructure in the 3rd quarter valued at approximately $207,000. MGO One Seven LLC increased its stake in Sterling Infrastructure by 12.6% during the 3rd quarter. MGO One Seven LLC now owns 4,928 shares of the construction company’s stock valued at $1,674,000 after purchasing an additional 550 shares in the last quarter. Aspiriant LLC purchased a new position in shares of Sterling Infrastructure in the third quarter worth $340,000. New York State Teachers Retirement System lifted its stake in shares of Sterling Infrastructure by 19.9% during the third quarter. New York State Teachers Retirement System now owns 21,118 shares of the construction company’s stock worth $7,173,000 after buying an additional 3,498 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Sterling Infrastructure by 5.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,659 shares of the construction company’s stock valued at $564,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on STRL shares. Wall Street Zen lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Weiss Ratings lowered Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, DA Davidson increased their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Sterling Infrastructure currently has a consensus rating of “Moderate Buy” and a consensus price target of $460.00.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock opened at $336.31 on Friday. The stock has a market capitalization of $10.33 billion, a P/E ratio of 32.97, a PEG ratio of 1.87 and a beta of 1.50. The business has a 50 day simple moving average of $325.75 and a two-hundred day simple moving average of $313.13. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $419.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.69. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%.The firm had revenue of $689.02 million for the quarter, compared to analyst estimates of $618.80 million. As a group, 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 buyback program on Wednesday, November 12th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.