Rice Hall James & Associates LLC Has $3.04 Million Holdings in Sterling Infrastructure, Inc. $STRL

Rice Hall James & Associates LLC lessened its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 34.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,934 shares of the construction company’s stock after selling 4,661 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Sterling Infrastructure were worth $3,035,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new stake in Sterling Infrastructure during the 2nd quarter valued at $26,000. Ameritas Advisory Services LLC purchased a new position in shares of Sterling Infrastructure during the second quarter valued at $29,000. Bessemer Group Inc. grew its holdings in shares of Sterling Infrastructure by 119.3% during the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock valued at $29,000 after buying an additional 68 shares in the last quarter. Golden State Wealth Management LLC raised its position in Sterling Infrastructure by 54.8% during the second quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock valued at $33,000 after buying an additional 51 shares during the period. Finally, Rakuten Securities Inc. lifted its stake in Sterling Infrastructure by 6,950.0% in the 2nd quarter. Rakuten Securities Inc. now owns 141 shares of the construction company’s stock worth $33,000 after acquiring an additional 139 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Up 0.8%

Shares of Sterling Infrastructure stock opened at $316.55 on Friday. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 31.03, a P/E/G ratio of 2.14 and a beta of 1.49. The stock has a 50-day simple moving average of $343.63 and a 200-day simple moving average of $304.47. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $419.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00.

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. The firm had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. On average, equities research analysts expect that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. DA Davidson raised their price target on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Sterling Infrastructure in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price 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.