Teacher Retirement System of Texas Decreases Stock Position in Sterling Infrastructure, Inc. $STRL

Teacher Retirement System of Texas decreased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 45.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 31,572 shares of the construction company’s stock after selling 25,959 shares during the period. Teacher Retirement System of Texas owned approximately 0.10% of Sterling Infrastructure worth $10,724,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of STRL. Twin Peaks Wealth Advisors LLC acquired a new stake in Sterling Infrastructure in the 2nd quarter worth approximately $26,000. Root Financial Partners LLC purchased a new position in shares of Sterling Infrastructure in the third quarter worth $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sterling Infrastructure during the third quarter worth $28,000. Ameritas Advisory Services LLC purchased a new stake in shares of Sterling Infrastructure during the second quarter valued at $29,000. Finally, 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 during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. DA Davidson lifted their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings cut Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Cantor Fitzgerald started coverage on Sterling Infrastructure in a research report on Friday. They issued an “overweight” rating and a $413.00 target price on the stock. Finally, Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $436.50.

Insider Buying and Selling at Sterling Infrastructure

In related news, Director Dwayne Andree Wilson sold 2,860 shares of the business’s stock in a transaction 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 $5,162,150. The trade was a 16.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

Sterling Infrastructure Stock Down 3.5%

Shares of STRL opened at $351.39 on Monday. 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 company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 2.06 and a beta of 1.50. The stock’s 50-day moving average price is $324.56 and its 200-day moving average price is $319.49.

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

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

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.