Burney Co. Sells 5,894 Shares of Sterling Infrastructure, Inc. $STRL

Burney Co. lowered its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 21.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,166 shares of the construction company’s stock after selling 5,894 shares during the quarter. Burney Co. owned 0.07% of Sterling Infrastructure worth $7,529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in STRL. Twin Peaks Wealth Advisors LLC bought a new stake in Sterling Infrastructure during the 2nd quarter valued at $26,000. Ameritas Advisory Services LLC bought a new stake in Sterling Infrastructure in the 2nd quarter worth $29,000. Bessemer Group Inc. increased its position in shares of Sterling Infrastructure by 119.3% in the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock valued at $29,000 after acquiring an additional 68 shares during the period. Rakuten Securities Inc. raised its stake in shares of Sterling Infrastructure by 6,950.0% during the second quarter. Rakuten Securities Inc. now owns 141 shares of the construction company’s stock valued at $33,000 after acquiring an additional 139 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Sterling Infrastructure by 54.8% during the second quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock worth $33,000 after purchasing an additional 51 shares during the period. Institutional investors own 80.95% of the company’s stock.

Analyst Upgrades and Downgrades

STRL has been the topic of a number of research analyst reports. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. DA Davidson lifted their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Sterling Infrastructure in a report on Monday. Finally, Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $460.00.

Sterling Infrastructure Price Performance

STRL opened at $316.55 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.13 and a beta of 1.49. The stock has a fifty day simple moving average of $343.63 and a two-hundred day simple moving average of $303.73. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. The firm had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. Research analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure declared that its board has initiated a stock buyback plan on Wednesday, November 12th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Sterling Infrastructure Profile

Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.

The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.