Bosun Asset Management LLC Acquires Shares of 2,238 Sterling Infrastructure, Inc. $STRL

Bosun Asset Management LLC bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 2nd quarter, Holdings Channel.com reports. The fund bought 2,238 shares of the construction company’s stock, valued at approximately $516,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. bought a new position in shares of Sterling Infrastructure during the 2nd quarter valued at about $19,761,000. Ieq Capital LLC increased its stake in Sterling Infrastructure by 94.8% during the 1st quarter. Ieq Capital LLC now owns 8,144 shares of the construction company’s stock worth $922,000 after purchasing an additional 3,963 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Sterling Infrastructure during the 2nd quarter worth approximately $305,000. New York State Teachers Retirement System lifted its stake in Sterling Infrastructure by 549.9% in the second quarter. New York State Teachers Retirement System now owns 17,620 shares of the construction company’s stock valued at $4,065,000 after buying an additional 14,909 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Sterling Infrastructure by 8.3% in the second quarter. JPMorgan Chase & Co. now owns 122,623 shares of the construction company’s stock valued at $28,293,000 after buying an additional 9,374 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Down 2.2%

Sterling Infrastructure stock opened at $325.10 on Monday. 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, Inc. has a 1-year low of $96.34 and a 1-year high of $419.14. The company has a fifty day simple moving average of $354.36 and a 200 day simple moving average of $292.12. The company has a market cap of $9.99 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 2.20 and a beta of 1.50.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The company had revenue of $403.58 million during the quarter. Research analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on STRL. DA Davidson raised 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. Zacks Research upgraded Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price 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.