Sterling Infrastructure, Inc. $STRL Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 18.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,522 shares of the construction company’s stock after selling 3,463 shares during the quarter. Voya Investment Management LLC owned about 0.05% of Sterling Infrastructure worth $5,273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC grew its stake in shares of Sterling Infrastructure by 743.9% in the first quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock valued at $55,857,000 after buying an additional 434,925 shares in the last quarter. State Street Corp boosted its holdings in Sterling Infrastructure by 62.0% in the 2nd quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock worth $261,129,000 after acquiring an additional 433,311 shares during the period. Invesco Ltd. grew its position in Sterling Infrastructure by 82.7% in the second quarter. Invesco Ltd. now owns 735,910 shares of the construction company’s stock valued at $169,797,000 after acquiring an additional 333,013 shares in the last quarter. Amanah Holdings Trust acquired a new stake in Sterling Infrastructure in the second quarter valued at approximately $44,527,000. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of Sterling Infrastructure during the second quarter valued at approximately $35,931,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Trading Down 0.6%

NASDAQ STRL opened at $313.92 on Friday. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $419.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 2.13 and a beta of 1.49. The company’s fifty day moving average price is $344.41 and its two-hundred day moving average price is $302.94.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The company had revenue of $403.58 million during the quarter. As a group, research 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 authorized a share buyback plan on Wednesday, November 12th that permits the company to repurchase $400.00 million in 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 generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STRL shares. Weiss Ratings restated a “buy (b-)” rating on shares of Sterling Infrastructure in a research note on Monday. Zacks Research upgraded shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. DA Davidson upped their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $460.00.

Sterling Infrastructure Profile

Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.

The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.