Sterling Infrastructure, Inc. $STRL Stock: Retirement Systems of Alabama Raises Holdings

Retirement Systems of Alabama lifted its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,165 shares of the construction company’s stock after buying an additional 3,427 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Sterling Infrastructure worth $17,293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC bought a new stake in Sterling Infrastructure during the 2nd quarter valued at $29,000. Persistent Asset Partners Ltd acquired a new position in Sterling Infrastructure during the 2nd quarter worth $40,000. MassMutual Private Wealth & Trust FSB boosted its position in Sterling Infrastructure by 100.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 60 shares of the construction company’s stock worth $50,000 after acquiring an additional 30 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of Sterling Infrastructure by 35.7% in the second quarter. TD Waterhouse Canada Inc. now owns 76 shares of the construction company’s stock worth $59,000 after purchasing an additional 20 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Sterling Infrastructure by 43.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 79 shares of the construction company’s stock worth $66,000 after purchasing an additional 24 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Sterling Infrastructure in a research note on Tuesday. They set an “overweight” rating and a $585.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $742.00 target price on shares of Sterling Infrastructure in a research report on Thursday, October 29th. Wall Street Zen upgraded shares of Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Stifel Nicolaus lowered their target price on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Finally, KeyCorp boosted their price target on shares of Sterling Infrastructure from $754.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $709.14.

Sterling Infrastructure Trading Down 0.7%

Shares of STRL stock opened at $301.60 on Friday. The stock has a 50-day simple moving average of $438.64 and a 200 day simple moving average of $547.56. Sterling Infrastructure, Inc. has a fifty-two week low of $239.35 and a fifty-two week high of $1,005.68. The stock has a market capitalization of $9.20 billion, a P/E ratio of 16.92, a P/E/G ratio of 0.56 and a beta of 1.97. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.06.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 EPS for the quarter, topping the consensus estimate of $6.20 by $1.38. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Sterling Infrastructure’s revenue for the quarter was up 127.0% on a year-over-year basis. On average, sell-side analysts expect that Sterling Infrastructure, Inc. will post 20.96 earnings per share for the current fiscal year.

About Sterling Infrastructure

Sterling Infrastructure, Inc. (NASDAQ: STRL) is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments. E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.