BI Asset Management Fondsmaeglerselskab A S Lowers Holdings in Sterling Infrastructure, Inc. $STRL

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 70.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,049 shares of the construction company’s stock after selling 58,733 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned about 0.08% of Sterling Infrastructure worth $8,509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Sterling Infrastructure by 62.0% during the 2nd quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock worth $261,129,000 after purchasing an additional 433,311 shares during the last quarter. Geode Capital Management LLC boosted its stake in Sterling Infrastructure by 0.5% during the second quarter. Geode Capital Management LLC now owns 739,302 shares of the construction company’s stock worth $170,600,000 after buying an additional 3,469 shares during the period. Invesco Ltd. increased its position in shares of Sterling Infrastructure by 82.7% during 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 during the last quarter. American Century Companies Inc. raised its stake in shares of Sterling Infrastructure by 61.6% in the 2nd quarter. American Century Companies Inc. now owns 354,372 shares of the construction company’s stock valued at $81,764,000 after acquiring an additional 135,107 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Sterling Infrastructure by 29.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 353,958 shares of the construction company’s stock worth $81,669,000 after acquiring an additional 80,481 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Insider Buying and Selling at Sterling Infrastructure

In related news, Director Dwayne Andree Wilson sold 2,860 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $350.00, for a total value of $1,001,000.00. Following the sale, the director owned 14,749 shares of the company’s stock, valued at $5,162,150. This trade represents a 16.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

STRL has been the subject of several research reports. DA Davidson lifted their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings upgraded Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Finally, Cantor Fitzgerald assumed coverage on Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Sterling Infrastructure has an average rating of “Moderate Buy” and an average price target of $436.50.

Sterling Infrastructure Stock Up 1.4%

Shares of NASDAQ STRL opened at $365.07 on Friday. The stock has a market cap of $11.21 billion, a P/E ratio of 35.79, a PEG ratio of 2.11 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $419.14. The business’s fifty day simple moving average is $331.33 and its 200-day simple moving average is $326.31.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.69. The company had revenue of $689.02 million for the quarter, compared to the consensus estimate of $618.80 million. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%. As a group, equities analysts predict that Sterling Infrastructure, Inc. will post 5.98 EPS 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 outstanding shares. This repurchase authorization permits the construction company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.