Sterling Infrastructure, Inc. $STRL Stock Holdings Lifted by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust grew its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 42.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,875 shares of the construction company’s stock after purchasing an additional 14,678 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Sterling Infrastructure were worth $16,602,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors 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 2nd quarter valued at approximately $26,000. Root Financial Partners LLC bought a new position in Sterling Infrastructure during the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Sterling Infrastructure in the third quarter valued at approximately $28,000. Ameritas Advisory Services LLC bought a new stake in Sterling Infrastructure in the second quarter worth approximately $29,000. Finally, Bessemer Group Inc. increased its stake in shares of Sterling Infrastructure by 119.3% during the 2nd 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 last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $350.00, for a total value of $1,001,000.00. Following the transaction, the director directly owned 14,749 shares of the company’s stock, valued at $5,162,150. The trade was a 16.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on STRL. Weiss Ratings lowered shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Finally, DA Davidson increased their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $460.00.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $364.25 on Friday. The company has a market capitalization of $11.19 billion, a PE ratio of 35.71, a price-to-earnings-growth ratio of 2.12 and a beta of 1.50. 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, Inc. has a one year low of $96.34 and a one year high of $419.14. The company’s fifty day moving average price is $324.30 and its 200 day moving average price is $317.45.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.69. The company had revenue of $689.02 million during the quarter, compared to analysts’ expectations of $618.80 million. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. As a group, analysts expect that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Sterling Infrastructure announced that its Board of Directors has initiated a stock repurchase program on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.