Loomis Sayles & Co. L P Has $81.66 Million Stake in Sterling Infrastructure, Inc. $STRL

Loomis Sayles & Co. L P cut its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,930 shares of the construction company’s stock after selling 8,556 shares during the period. Loomis Sayles & Co. L P owned about 1.16% of Sterling Infrastructure worth $81,662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of Sterling Infrastructure by 743.9% during the first quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock worth $55,857,000 after purchasing an additional 434,925 shares in the last quarter. Amanah Holdings Trust acquired a new stake in Sterling Infrastructure in the second quarter worth about $44,527,000. Nuveen LLC bought a new stake in Sterling Infrastructure during the 1st quarter worth about $19,741,000. Vanguard Group Inc. grew its position in shares of Sterling Infrastructure by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company’s stock worth $303,742,000 after buying an additional 159,191 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Sterling Infrastructure by 61.6% in the second quarter. American Century Companies Inc. now owns 354,372 shares of the construction company’s stock valued at $81,764,000 after buying an additional 135,107 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Up 1.3%

Shares of Sterling Infrastructure stock opened at $344.34 on Friday. The firm has a market cap of $10.58 billion, a PE ratio of 37.43, a P/E/G ratio of 2.98 and a beta of 1.39. The business’s 50 day simple moving average is $357.06 and its 200 day simple moving average is $285.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share (EPS) for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. The company had revenue of $403.58 million for the quarter. On average, analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 12th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

STRL has been the subject of a number of analyst reports. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. DA Davidson raised their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $460.00.

About Sterling Infrastructure

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.