Global Retirement Partners LLC Buys Shares of 1,520 Sterling Infrastructure, Inc. $STRL

Global Retirement Partners LLC bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,520 shares of the construction company’s stock, valued at approximately $351,000.

Other large investors also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in Sterling Infrastructure during the second quarter valued at $29,000. Bessemer Group Inc. lifted its position in shares of Sterling Infrastructure by 119.3% during the 2nd 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. Golden State Wealth Management LLC grew its stake in shares of Sterling Infrastructure by 54.8% during the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock worth $33,000 after acquiring an additional 51 shares during the period. Armstrong Advisory Group Inc. increased its holdings in Sterling Infrastructure by 93.2% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company’s stock worth $39,000 after acquiring an additional 82 shares during the last quarter. Finally, MCF Advisors LLC increased its holdings in Sterling Infrastructure by 97.7% in the 2nd quarter. MCF Advisors LLC now owns 172 shares of the construction company’s stock worth $40,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $344.34 on Monday. The company has a 50 day moving average of $357.06 and a 200 day moving average of $287.19. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $10.58 billion, a P/E ratio of 37.43, a P/E/G ratio of 2.98 and a beta of 1.39. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share (EPS) for the quarter. The business had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. As a group, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure declared that its board has approved a stock buyback program on Wednesday, November 12th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

STRL has been the topic of several recent research reports. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. 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 research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Sterling Infrastructure has an average rating of “Moderate Buy” and a consensus price target of $460.00.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.