Burney Co. Cuts Stock Position in Sterling Infrastructure, Inc. $STRL

Burney Co. decreased its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 21.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,166 shares of the construction company’s stock after selling 5,894 shares during the quarter. Burney Co.’s holdings in Sterling Infrastructure were worth $7,529,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. increased its holdings in shares of Sterling Infrastructure by 12.1% during the first quarter. Raymond James Financial Inc. now owns 111,254 shares of the construction company’s stock valued at $12,595,000 after acquiring an additional 12,046 shares in the last quarter. AlphaQuest LLC grew its position in Sterling Infrastructure by 49.6% during the 1st quarter. AlphaQuest LLC now owns 549 shares of the construction company’s stock valued at $62,000 after purchasing an additional 182 shares during the last quarter. Ieq Capital LLC increased its stake in Sterling Infrastructure by 94.8% during 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. OMERS ADMINISTRATION Corp raised its holdings in Sterling Infrastructure by 72.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 14,122 shares of the construction company’s stock worth $1,599,000 after buying an additional 5,922 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Sterling Infrastructure in the first quarter worth approximately $646,000. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Price Performance

Shares of STRL opened at $316.55 on Friday. The firm has a fifty day simple moving average of $343.63 and a two-hundred day simple moving average of $303.73. The firm has a market cap of $9.72 billion, a PE ratio of 31.03, a P/E/G ratio of 2.13 and a beta of 1.49. 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 1-year low of $96.34 and a 1-year high of $419.14.

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

Sterling Infrastructure announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 12th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

STRL has been the subject of several analyst reports. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Zacks Research upgraded Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. 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 reaffirmed a “buy (b-)” rating on shares of Sterling Infrastructure in a report on Monday. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Sterling Infrastructure presently has a consensus rating of “Buy” and a consensus price target of $460.00.

About Sterling Infrastructure

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.