3,700 Shares in Sterling Infrastructure, Inc. $STRL Purchased by Homestead Advisers Corp

Homestead Advisers Corp acquired a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 3,700 shares of the construction company’s stock, valued at approximately $1,257,000.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in shares of Sterling Infrastructure during the first quarter valued at about $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Sterling Infrastructure by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 83,983 shares of the construction company’s stock worth $9,508,000 after purchasing an additional 9,625 shares during the period. Focus Partners Wealth increased its holdings in Sterling Infrastructure by 13.7% in the 1st quarter. Focus Partners Wealth now owns 2,313 shares of the construction company’s stock valued at $262,000 after purchasing an additional 279 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Sterling Infrastructure by 3.8% in the second quarter. Janney Montgomery Scott LLC now owns 3,593 shares of the construction company’s stock valued at $829,000 after purchasing an additional 133 shares during the period. Finally, HB Wealth Management LLC acquired a new position in Sterling Infrastructure during the second quarter worth $252,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson lifted 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. Cantor Fitzgerald started coverage on Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 target price for the company. Weiss Ratings upgraded shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Finally, Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Sterling Infrastructure presently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $360.16 on Thursday. 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 company has a market cap of $11.06 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 2.26 and a beta of 1.51. The stock’s 50-day moving average is $330.83 and its two-hundred day moving average is $326.04. 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 business 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%. Analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $350.00, for a total value of $1,001,000.00. Following the sale, the director directly owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. This represents a 16.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.70% of the stock is owned by company insiders.

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.