Cynosure Group LLC Has $907,000 Stock Position in Sterling Infrastructure, Inc. $STRL

Cynosure Group LLC reduced its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 29.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,932 shares of the construction company’s stock after selling 1,643 shares during the period. Cynosure Group LLC’s holdings in Sterling Infrastructure were worth $907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of STRL. Hantz Financial Services Inc. raised its stake in Sterling Infrastructure by 16.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock valued at $68,000 after purchasing an additional 41 shares during the last quarter. CWC Advisors LLC. increased its holdings in shares of Sterling Infrastructure by 2.4% during the 2nd quarter. CWC Advisors LLC. now owns 1,858 shares of the construction company’s stock worth $429,000 after purchasing an additional 43 shares during the period. Richardson Financial Services Inc. raised its position in shares of Sterling Infrastructure by 32.9% during the second quarter. Richardson Financial Services Inc. now owns 190 shares of the construction company’s stock valued at $42,000 after buying an additional 47 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Sterling Infrastructure by 9.4% in the second quarter. Private Trust Co. NA now owns 591 shares of the construction company’s stock valued at $136,000 after buying an additional 51 shares during the period. Finally, Golden State Wealth Management LLC grew its position in Sterling Infrastructure by 54.8% during the second quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $315.10 on Friday. The business has a 50 day simple moving average of $356.51 and a 200 day simple moving average of $280.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $9.68 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share (EPS) for the quarter. The firm had revenue of $403.58 million during the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%. On average, sell-side 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 share buyback 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 typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have commented on STRL. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. DA Davidson upped their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $460.00.

Sterling Infrastructure Company 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.