Frontier Capital Management Co. LLC Invests $35.93 Million in Sterling Infrastructure, Inc. $STRL

Frontier Capital Management Co. LLC bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 155,729 shares of the construction company’s stock, valued at approximately $35,931,000. Frontier Capital Management Co. LLC owned approximately 0.51% of Sterling Infrastructure as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of STRL. Hantz Financial Services Inc. lifted its position in Sterling Infrastructure by 16.1% during the second quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock valued at $68,000 after purchasing an additional 41 shares during the last quarter. CWC Advisors LLC. increased its holdings in shares of Sterling Infrastructure by 2.4% in the 2nd quarter. CWC Advisors LLC. now owns 1,858 shares of the construction company’s stock worth $429,000 after buying an additional 43 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of Sterling Infrastructure by 32.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 190 shares of the construction company’s stock valued at $42,000 after buying an additional 47 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Sterling Infrastructure by 9.4% in the 2nd quarter. Private Trust Co. NA now owns 591 shares of the construction company’s stock valued at $136,000 after acquiring an additional 51 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Sterling Infrastructure by 54.8% in the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock valued at $33,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Up 2.7%

STRL opened at $340.51 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50 day moving average price is $353.37 and its 200-day moving average price is $294.69. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $419.14. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 2.25 and a beta of 1.49.

Sterling Infrastructure (NASDAQ:STRL) last issued 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 return on equity of 29.81% and a net margin of 14.14%.The firm had revenue of $403.58 million during the quarter. On average, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure announced that its Board of Directors has initiated a share buyback plan on Wednesday, November 12th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on STRL. Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. DA Davidson increased their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, Sterling Infrastructure has a consensus rating of “Buy” and an average price target 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.