1,603 Shares in Sterling Infrastructure, Inc. $STRL Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,603 shares of the construction company’s stock, valued at approximately $542,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of STRL. Ballentine Partners LLC acquired a new stake in shares of Sterling Infrastructure during the 3rd quarter worth approximately $218,000. Federated Hermes Inc. boosted its stake in Sterling Infrastructure by 1.3% during the third quarter. Federated Hermes Inc. now owns 32,890 shares of the construction company’s stock worth $11,172,000 after acquiring an additional 429 shares in the last quarter. Truist Financial Corp grew its holdings in Sterling Infrastructure by 37.6% in the third quarter. Truist Financial Corp now owns 3,826 shares of the construction company’s stock worth $1,300,000 after purchasing an additional 1,046 shares during the period. Hutchens & Kramer Investment Management Group LLC acquired a new stake in Sterling Infrastructure in the third quarter worth $230,000. Finally, Saxon Interests Inc. bought a new stake in Sterling Infrastructure in the third quarter valued at $384,000. 80.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Dwayne Andree Wilson sold 2,860 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the completion of the sale, the director owned 14,749 shares in the company, valued at approximately $5,162,150. This represents a 16.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by insiders.

Sterling Infrastructure Trading Up 2.8%

STRL opened at $367.95 on Tuesday. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $419.14. The firm has a market capitalization of $11.30 billion, a PE ratio of 36.07, a P/E/G ratio of 2.10 and a beta of 1.51. 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’s 50-day moving average is $329.34 and its 200 day moving average is $324.84.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Monday, November 3rd. The construction company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.69. The firm had revenue of $689.02 million during the quarter, compared to analyst estimates of $618.80 million. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%. As a group, research analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure declared that its board 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 repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STRL. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. DA Davidson increased their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Cantor Fitzgerald assumed coverage on Sterling Infrastructure in a research note on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Sterling Infrastructure currently has an average rating of “Moderate Buy” and an average price target of $436.50.

Sterling Infrastructure Company 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.