Abacus FCF Advisors LLC Invests $7.60 Million in Sterling Infrastructure, Inc. $STRL

Abacus FCF Advisors LLC acquired a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,374 shares of the construction company’s stock, valued at approximately $7,600,000. Abacus FCF Advisors LLC owned 0.07% of Sterling Infrastructure as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Diversified Trust Co grew its stake in Sterling Infrastructure by 2.1% during the third quarter. Diversified Trust Co now owns 6,244 shares of the construction company’s stock worth $2,121,000 after purchasing an additional 127 shares during the period. HM Payson & Co. bought a new stake in Sterling Infrastructure in the third quarter valued at $58,000. Ethic Inc. raised its holdings in shares of Sterling Infrastructure by 7.9% during the third quarter. Ethic Inc. now owns 1,166 shares of the construction company’s stock valued at $396,000 after purchasing an additional 85 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of Sterling Infrastructure in the 3rd quarter valued at about $235,000. Finally, FSM Wealth Advisors LLC bought a new stake in Sterling Infrastructure in the 3rd quarter valued at about $208,000. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Down 1.8%

Shares of STRL opened at $310.79 on Tuesday. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $419.14. The business has a 50-day moving average of $342.46 and a 200 day moving average of $305.92. The firm has a market cap of $9.55 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 2.14 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00.

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

Sterling Infrastructure declared that its board has approved a stock buyback program 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 programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented 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 lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Sterling Infrastructure in a research note on Monday, December 22nd. Finally, DA Davidson increased their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $460.00.

About Sterling Infrastructure

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.