Osaic Holdings Inc. Increases Position in Sterling Infrastructure, Inc. $STRL

Osaic Holdings Inc. lifted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 135.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,402 shares of the construction company’s stock after acquiring an additional 15,751 shares during the period. Osaic Holdings Inc. owned 0.09% of Sterling Infrastructure worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STRL. Cookson Peirce & Co. Inc. acquired a new position in shares of Sterling Infrastructure in the second quarter worth about $19,761,000. Ieq Capital LLC increased its stake in shares of Sterling Infrastructure by 94.8% in the 1st quarter. Ieq Capital LLC now owns 8,144 shares of the construction company’s stock valued at $922,000 after purchasing an additional 3,963 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in Sterling Infrastructure in the 2nd quarter worth about $305,000. New York State Teachers Retirement System boosted its position in Sterling Infrastructure by 549.9% during the second quarter. New York State Teachers Retirement System now owns 17,620 shares of the construction company’s stock worth $4,065,000 after purchasing an additional 14,909 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Sterling Infrastructure by 8.3% in the second quarter. JPMorgan Chase & Co. now owns 122,623 shares of the construction company’s stock valued at $28,293,000 after purchasing an additional 9,374 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Trading Up 1.4%

Shares of STRL opened at $313.04 on Tuesday. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $419.14. 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 firm’s fifty day moving average is $347.29 and its two-hundred day moving average is $302.01. The stock has a market cap of $9.62 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 2.09 and a beta of 1.50.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. The business had revenue of $403.58 million during the quarter. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. Research analysts forecast that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STRL. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Sterling Infrastructure in a research note on Tuesday, December 16th. Zacks Research raised shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Finally, DA Davidson boosted their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat, Sterling Infrastructure currently has a consensus rating of “Buy” and a consensus target price of $460.00.

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.