Aviva PLC Sells 2,889 Shares of Sterling Infrastructure, Inc. $STRL

Aviva PLC trimmed its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 55.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,355 shares of the construction company’s stock after selling 2,889 shares during the quarter. Aviva PLC’s holdings in Sterling Infrastructure were worth $543,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Sterling Infrastructure in the 2nd quarter worth $29,000. Bessemer Group Inc. increased its position in shares of Sterling Infrastructure by 119.3% during the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after purchasing an additional 68 shares in the last quarter. Golden State Wealth Management LLC increased its position in Sterling Infrastructure by 54.8% during the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock valued at $33,000 after buying an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in shares of Sterling Infrastructure by 93.2% during the second quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company’s stock valued at $39,000 after acquiring an additional 82 shares in the last quarter. Finally, MCF Advisors LLC raised its holdings in shares of Sterling Infrastructure by 97.7% in the second quarter. MCF Advisors LLC now owns 172 shares of the construction company’s stock worth $40,000 after buying 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

Sterling Infrastructure stock opened at $326.60 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The company’s 50 day simple moving average is $352.93 and its 200-day simple moving average is $273.06. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $419.14. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39.

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

Sterling Infrastructure announced that its board has initiated a share buyback program on Wednesday, November 12th that allows the company to buyback $400.00 million in outstanding 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 often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

STRL has been the subject of a number of research reports. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Finally, DA Davidson raised their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Sterling Infrastructure has a consensus rating of “Moderate Buy” and an average price target of $460.00.

Sterling Infrastructure 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.