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

Teacher Retirement System of Texas lessened its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 21.8% during the second quarter, Holdings Channel.com reports. The firm owned 57,531 shares of the construction company’s stock after selling 16,076 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sterling Infrastructure were worth $13,274,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Convergence Investment Partners LLC grew its stake in shares of Sterling Infrastructure by 1.1% during the second 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 during the last quarter. Bessemer Group Inc. grew its position in Sterling Infrastructure by 119.3% during the 2nd quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after acquiring an additional 68 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Sterling Infrastructure by 42.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 111,884 shares of the construction company’s stock worth $25,815,000 after acquiring an additional 33,430 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Sterling Infrastructure by 405.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,567 shares of the construction company’s stock valued at $362,000 after purchasing an additional 1,257 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Sterling Infrastructure in the second quarter valued at approximately $291,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on STRL shares. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. DA Davidson raised their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Zacks Research raised shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $355.00.

Sterling Infrastructure Trading Up 0.8%

Shares of STRL opened at $379.89 on Wednesday. The firm’s 50-day moving average price is $328.99 and its 200-day moving average price is $253.65. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 2.79 and a beta of 1.38. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $391.72.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. The firm had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. Sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.