Atria Investments Inc Trims Stake in Sterling Infrastructure, Inc. $STRL

Atria Investments Inc reduced its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 24.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,035 shares of the construction company’s stock after selling 1,946 shares during the quarter. Atria Investments Inc’s holdings in Sterling Infrastructure were worth $2,050,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Illinois Municipal Retirement Fund grew its holdings in shares of Sterling Infrastructure by 26.8% during the third quarter. Illinois Municipal Retirement Fund now owns 19,274 shares of the construction company’s stock worth $6,547,000 after purchasing an additional 4,079 shares in the last quarter. Wedbush Securities Inc. lifted its position in Sterling Infrastructure by 18.3% during the third quarter. Wedbush Securities Inc. now owns 2,676 shares of the construction company’s stock valued at $909,000 after purchasing an additional 413 shares during the last quarter. Savvy Advisors Inc. lifted its position in Sterling Infrastructure by 10.7% during the third quarter. Savvy Advisors Inc. now owns 1,124 shares of the construction company’s stock valued at $382,000 after purchasing an additional 109 shares during the last quarter. GK Wealth Management LLC grew its stake in Sterling Infrastructure by 51.4% in the 3rd quarter. GK Wealth Management LLC now owns 1,316 shares of the construction company’s stock worth $447,000 after buying an additional 447 shares in the last quarter. Finally, Cibc World Market Inc. increased its holdings in shares of Sterling Infrastructure by 9.0% in the 3rd quarter. Cibc World Market Inc. now owns 45,261 shares of the construction company’s stock worth $15,374,000 after buying an additional 3,740 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. DA Davidson lifted their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Cantor Fitzgerald started coverage on Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price objective on the stock. Finally, Stifel Nicolaus set a $486.00 target price on Sterling Infrastructure and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $453.00.

Insider Buying and Selling

In related news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction on Monday, February 9th. The shares were sold at an average price of $410.00, for a total value of $820,000.00. Following the transaction, the director directly owned 11,498 shares of the company’s stock, valued at $4,714,180. The trade was a 14.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dwayne Andree Wilson sold 2,860 shares of the stock in a transaction 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 of the company’s stock, valued at $5,162,150. The trade was a 16.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,860 shares of company stock valued at $2,611,000. Insiders own 2.70% of the company’s stock.

Sterling Infrastructure Trading Down 3.8%

NASDAQ STRL opened at $421.20 on Wednesday. The firm has a market cap of $12.94 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $470.00. The stock has a 50-day moving average of $346.84 and a 200-day moving average of $336.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26.

Sterling Infrastructure announced that its board has authorized a stock repurchase program 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 programs are often an indication that the company’s board believes its stock is 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.