Sterling Infrastructure, Inc. $STRL Shares Acquired by AlphaQuest LLC

AlphaQuest LLC boosted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 86.9% in the third quarter, Holdings Channel.com reports. The firm owned 5,683 shares of the construction company’s stock after acquiring an additional 2,642 shares during the quarter. AlphaQuest LLC’s holdings in Sterling Infrastructure were worth $1,930,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STRL. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at approximately $26,000. Root Financial Partners LLC purchased a new position in Sterling Infrastructure in the third quarter worth $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Sterling Infrastructure in the third quarter valued at $28,000. Ameritas Advisory Services LLC acquired a new stake in Sterling Infrastructure in the second quarter valued at $29,000. Finally, Bessemer Group Inc. boosted its position in shares of 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 purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STRL. Cantor Fitzgerald started coverage on shares of Sterling Infrastructure in a report on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price target for the company. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. DA Davidson boosted their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Sterling Infrastructure Price Performance

STRL stock opened at $357.91 on Friday. The stock’s 50 day moving average price is $328.83 and its 200 day moving average price is $322.86. The firm has a market cap of $10.99 billion, a P/E ratio of 35.09, a PEG ratio of 2.22 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.69. The company had revenue of $689.02 million during the quarter, compared to analysts’ expectations of $618.80 million. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%. On average, sell-side analysts expect 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 buyback program on Wednesday, November 12th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the sale, the director directly owned 14,749 shares of the company’s stock, valued at $5,162,150. This trade represents a 16.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

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.