Truist Financial Corp lowered its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 18.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,434 shares of the construction company’s stock after selling 3,200 shares during the quarter. Truist Financial Corp’s holdings in Sterling Infrastructure were worth $805,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Meritage Portfolio Management acquired a new position in Sterling Infrastructure in the second quarter valued at about $790,000. Koshinski Asset Management Inc. boosted its position in Sterling Infrastructure by 76.0% in the second quarter. Koshinski Asset Management Inc. now owns 18,832 shares of the construction company’s stock valued at $1,051,000 after buying an additional 8,130 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in Sterling Infrastructure in the second quarter valued at about $1,824,000. Congress Asset Management Co. MA acquired a new position in Sterling Infrastructure in the second quarter valued at about $28,836,000. Finally, EA Series Trust acquired a new position in Sterling Infrastructure in the second quarter valued at about $3,550,000. Institutional investors own 80.89% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on shares of Sterling Infrastructure in a research report on Thursday, October 5th. They issued a “buy” rating on the stock.
Sterling Infrastructure Price Performance
Shares of STRL stock opened at $62.67 on Wednesday. Sterling Infrastructure, Inc. has a 1 year low of $30.19 and a 1 year high of $84.00. The firm’s 50 day moving average is $74.61 and its 200-day moving average is $62.42. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 0.93 and a beta of 1.27. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.61.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last announced its earnings results on Monday, August 7th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.34. Sterling Infrastructure had a net margin of 6.23% and a return on equity of 22.25%. The company had revenue of $522.33 million for the quarter, compared to analyst estimates of $491.50 million. Sell-side analysts forecast that Sterling Infrastructure, Inc. will post 4.09 EPS for the current fiscal year.
Sterling Infrastructure Profile
Sterling Infrastructure, Inc engages in the e-infrastructure, transportation, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.
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