Envestnet Asset Management Inc. Raises Stake in Sterling Infrastructure, Inc. $STRL

Envestnet Asset Management Inc. lifted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 42.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 111,884 shares of the construction company’s stock after purchasing an additional 33,430 shares during the quarter. Envestnet Asset Management Inc. owned about 0.37% of Sterling Infrastructure worth $25,815,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Sterling Infrastructure by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company’s stock worth $303,742,000 after acquiring an additional 159,191 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Sterling Infrastructure by 7.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,498,999 shares of the construction company’s stock worth $169,702,000 after acquiring an additional 105,222 shares during the period. Congress Asset Management Co. boosted its holdings in Sterling Infrastructure by 2.9% in the 2nd quarter. Congress Asset Management Co. now owns 547,688 shares of the construction company’s stock worth $126,368,000 after acquiring an additional 15,490 shares during the period. GW&K Investment Management LLC boosted its holdings in Sterling Infrastructure by 37.7% in the 1st quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company’s stock worth $56,608,000 after acquiring an additional 136,777 shares during the period. Finally, Millennium Management LLC boosted its holdings in Sterling Infrastructure by 743.9% in the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock worth $55,857,000 after acquiring an additional 434,925 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $392.77 on Tuesday. The business’s 50 day moving average is $337.67 and its two-hundred day moving average is $261.48. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $409.33. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.98 and a beta of 1.38. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on STRL shares. Weiss Ratings restated a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. Zacks Research upgraded Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. DA Davidson upped their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $355.00.

About Sterling Infrastructure

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.