Lisanti Capital Growth LLC Acquires 4,691 Shares of Sterling Infrastructure, Inc. $STRL

Lisanti Capital Growth LLC boosted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 16.9% in the third quarter, Holdings Channel reports. The firm owned 32,471 shares of the construction company’s stock after purchasing an additional 4,691 shares during the period. Sterling Infrastructure accounts for 2.7% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 2nd biggest holding. Lisanti Capital Growth LLC’s holdings in Sterling Infrastructure were worth $11,030,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Root Financial Partners LLC acquired a new position in shares of Sterling Infrastructure in the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new position in Sterling Infrastructure during the 3rd quarter worth about $28,000. Bogart Wealth LLC raised its stake in shares of Sterling Infrastructure by 535.7% in the 3rd quarter. Bogart Wealth LLC now owns 89 shares of the construction company’s stock valued at $30,000 after purchasing an additional 75 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Sterling Infrastructure in the second quarter valued at about $26,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Sterling Infrastructure during the second quarter worth about $29,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Wall Street Analysts Forecast Growth

STRL has been the subject of several analyst reports. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings upgraded Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Cantor Fitzgerald started coverage on shares of Sterling Infrastructure in a report on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price objective for the company. Finally, DA Davidson increased their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $436.50.

Sterling Infrastructure Trading Down 5.6%

Shares of NASDAQ STRL opened at $357.91 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $419.14. The stock has a market cap of $10.99 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 2.22 and a beta of 1.50. The firm has a 50 day moving average price of $328.83 and a two-hundred day moving average price of $322.86.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, November 3rd. The construction company reported $3.48 EPS for the quarter, topping 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 firm had revenue of $689.02 million for the quarter, compared to the consensus estimate of $618.80 million. As a group, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure announced that its board has approved 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 repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dwayne Andree Wilson sold 2,860 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the transaction, the director owned 14,749 shares in the company, valued at approximately $5,162,150. This represents a 16.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by corporate insiders.

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.