Baader Bank Aktiengesellschaft Purchases New Stake in Sterling Infrastructure, Inc. $STRL

Baader Bank Aktiengesellschaft purchased a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the third quarter, HoldingsChannel.com reports. The fund purchased 1,531 shares of the construction company’s stock, valued at approximately $516,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cookson Peirce & Co. Inc. purchased a new stake in Sterling Infrastructure in the second quarter worth about $19,761,000. Vontobel Holding Ltd. bought a new position in shares of Sterling Infrastructure in the 2nd quarter worth approximately $305,000. New York State Teachers Retirement System lifted its stake in shares of Sterling Infrastructure by 549.9% in the 2nd quarter. New York State Teachers Retirement System now owns 17,620 shares of the construction company’s stock valued at $4,065,000 after purchasing an additional 14,909 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Sterling Infrastructure by 8.3% during the second quarter. JPMorgan Chase & Co. now owns 122,623 shares of the construction company’s stock valued at $28,293,000 after purchasing an additional 9,374 shares in the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new stake in Sterling Infrastructure in the second quarter worth $35,931,000. 80.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction 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 completion of the sale, the director owned 14,749 shares of the company’s stock, valued at $5,162,150. The trade was a 16.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $410.00, for a total transaction of $820,000.00. Following the completion of the transaction, the director owned 11,498 shares in the company, valued at $4,714,180. This trade represents a 14.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,860 shares of company stock valued at $2,611,000. Corporate insiders own 3.70% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of STRL opened at $431.43 on Friday. The company has a market capitalization of $13.25 billion, a P/E ratio of 42.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.51. 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 firm has a 50 day moving average of $340.38 and a 200 day moving average of $332.13. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $470.00.

Sterling Infrastructure declared that its Board of Directors has authorized a stock buyback program on Wednesday, November 12th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

STRL has been the topic of a number of recent research reports. DA Davidson upped their target price on shares of 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 raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Stifel Nicolaus set a $486.00 target price on shares of Sterling Infrastructure and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald began coverage on shares of Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 target price for the company. Finally, Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $453.00.

Sterling Infrastructure 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.