Jackson Creek Investment Advisors LLC Has $1.52 Million Stake in Sterling Infrastructure, Inc. $STRL

Jackson Creek Investment Advisors LLC lowered its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 27.2% in the third quarter, HoldingsChannel.com reports. The firm owned 4,480 shares of the construction company’s stock after selling 1,670 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Sterling Infrastructure were worth $1,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Sterling Infrastructure in the second quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new position in Sterling Infrastructure in the 3rd quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sterling Infrastructure during the 3rd quarter valued at $28,000. Ameritas Advisory Services LLC acquired a new stake in shares of Sterling Infrastructure during the 2nd quarter worth $29,000. Finally, Bessemer Group Inc. increased its position in shares of Sterling Infrastructure by 119.3% in the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after purchasing an additional 68 shares during the period. 80.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on STRL shares. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Cantor Fitzgerald initiated coverage on shares of Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price target for the company. Weiss Ratings raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Finally, DA Davidson boosted 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. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

Sterling Infrastructure Price Performance

Shares of STRL opened at $367.95 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The stock has a market cap of $11.30 billion, a PE ratio of 36.07, a PEG ratio of 2.10 and a beta of 1.51. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $419.14. The business has a 50-day simple moving average of $329.34 and a two-hundred day simple moving average of $324.84.

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 the consensus estimate of $2.79 by $0.69. The company had revenue of $689.02 million for 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%. Analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the company’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 completion of the transaction, the director directly owned 14,749 shares in the company, valued at approximately $5,162,150. This represents a 16.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by insiders.

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.