Sterling Infrastructure, Inc. $STRL is Bridge City Capital LLC’s Largest Position

Bridge City Capital LLC lowered its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 23.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 50,675 shares of the construction company’s stock after selling 15,569 shares during the period. Sterling Infrastructure comprises about 3.3% of Bridge City Capital LLC’s investment portfolio, making the stock its biggest position. Bridge City Capital LLC owned 0.17% of Sterling Infrastructure worth $11,692,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of Sterling Infrastructure by 743.9% during the first quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock valued at $55,857,000 after buying an additional 434,925 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Sterling Infrastructure by 82.7% in the 2nd quarter. Invesco Ltd. now owns 735,910 shares of the construction company’s stock valued at $169,797,000 after acquiring an additional 333,013 shares during the last quarter. Amanah Holdings Trust purchased a new stake in Sterling Infrastructure during the 2nd quarter valued at about $44,527,000. Nuveen LLC bought a new position in Sterling Infrastructure during the 1st quarter worth approximately $19,741,000. Finally, Vanguard Group Inc. grew its position in Sterling Infrastructure by 6.3% during 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 last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Down 1.3%

NASDAQ:STRL opened at $323.46 on Thursday. The company has a 50-day moving average price of $354.83 and a 200-day moving average price of $289.37. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 2.17 and a beta of 1.49. 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 12 month low of $96.34 and a 12 month high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share (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. Equities analysts predict that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

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

Analyst Ratings Changes

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