Sterling Infrastructure, Inc. $STRL Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 31.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,126 shares of the construction company’s stock after selling 20,987 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.15% of Sterling Infrastructure worth $15,668,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its holdings in shares of Sterling Infrastructure by 16.1% during the second quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock worth $68,000 after buying an additional 41 shares in the last quarter. Richardson Financial Services Inc. boosted its position in Sterling Infrastructure by 22.6% during the third quarter. Richardson Financial Services Inc. now owns 233 shares of the construction company’s stock worth $79,000 after acquiring an additional 43 shares during the last quarter. Private Trust Co. NA grew its stake in Sterling Infrastructure by 9.4% during the 2nd quarter. Private Trust Co. NA now owns 591 shares of the construction company’s stock valued at $136,000 after acquiring an additional 51 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Sterling Infrastructure by 54.8% during the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock valued at $33,000 after acquiring an additional 51 shares in the last quarter. Finally, Convergence Investment Partners LLC grew its position in shares of Sterling Infrastructure by 1.1% in the second quarter. Convergence Investment Partners LLC now owns 5,774 shares of the construction company’s stock valued at $1,332,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Cantor Fitzgerald initiated coverage on Sterling Infrastructure in a research note on Friday, January 23rd. They issued an “overweight” rating and a $413.00 target price for the company. DA Davidson upped their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Finally, Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 14,749 shares in the company, valued at $5,162,150. This represents a 16.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by insiders.

Sterling Infrastructure Price Performance

STRL stock opened at $386.78 on Wednesday. The business’s fifty day moving average price is $330.42 and its 200 day moving average price is $325.80. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $419.14. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $11.88 billion, a PE ratio of 37.92, a P/E/G ratio of 2.15 and a beta of 1.51.

Sterling Infrastructure (NASDAQ:STRL) last released its 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. The company had revenue of $689.02 million during the quarter, compared to the consensus estimate of $618.80 million. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%. On average, sell-side 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 stock repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management 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.