Sterling Infrastructure, Inc. $STRL Stock Holdings Raised by Next Century Growth Investors LLC

Next Century Growth Investors LLC grew its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 85.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,972 shares of the construction company’s stock after purchasing an additional 69,585 shares during the quarter. Sterling Infrastructure makes up approximately 2.7% of Next Century Growth Investors LLC’s investment portfolio, making the stock its 3rd largest position. Next Century Growth Investors LLC owned approximately 0.50% of Sterling Infrastructure worth $34,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in shares of Sterling Infrastructure by 9.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,158 shares of the construction company’s stock worth $244,000 after purchasing an additional 178 shares during the period. Vanguard Group Inc. increased its holdings in shares of Sterling Infrastructure by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company’s stock valued at $303,742,000 after acquiring an additional 159,191 shares during the period. Deutsche Bank AG lifted its stake in shares of Sterling Infrastructure by 2.5% during the 1st quarter. Deutsche Bank AG now owns 32,329 shares of the construction company’s stock worth $3,660,000 after purchasing an additional 798 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in Sterling Infrastructure during the first quarter valued at about $387,000. Finally, Virtu Financial LLC bought a new position in Sterling Infrastructure in the first quarter worth about $904,000. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $324.10 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $353.72 and its 200 day moving average is $294.11. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $419.14. The company has a market cap of $9.96 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 2.20 and a beta of 1.49.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%.The firm had revenue of $403.58 million for the quarter. On average, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure announced that its board has approved a share buyback plan on Wednesday, November 12th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on STRL. Weiss Ratings restated a “buy (b)” rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. Zacks Research upgraded Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Finally, DA Davidson increased their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Sterling Infrastructure currently has a consensus rating of “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.