Sterling Infrastructure, Inc. $STRL Holdings Trimmed by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lowered its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,953 shares of the construction company’s stock after selling 3,576 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of Sterling Infrastructure worth $15,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of STRL. State Street Corp raised its position in Sterling Infrastructure by 62.0% during the second quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock valued at $261,129,000 after buying an additional 433,311 shares during the period. Geode Capital Management LLC grew its stake in Sterling Infrastructure by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 739,302 shares of the construction company’s stock valued at $170,600,000 after acquiring an additional 3,469 shares in the last quarter. Invesco Ltd. grew its stake in Sterling Infrastructure by 82.7% during 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 in the last quarter. Congress Asset Management Co. increased its holdings in shares of Sterling Infrastructure by 2.9% in the 2nd quarter. Congress Asset Management Co. now owns 547,688 shares of the construction company’s stock valued at $126,368,000 after purchasing an additional 15,490 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Sterling Infrastructure by 61.6% in the second quarter. American Century Companies Inc. now owns 354,372 shares of the construction company’s stock worth $81,764,000 after purchasing an additional 135,107 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on STRL shares. Weiss Ratings restated a “buy (b-)” rating on shares of Sterling Infrastructure in a report on Monday, December 29th. Zacks Research upgraded Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Finally, DA Davidson boosted their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $460.00.

Sterling Infrastructure Price Performance

STRL opened at $317.41 on Wednesday. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $419.14. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The stock has a market cap of $9.75 billion, a P/E ratio of 31.12, a P/E/G ratio of 1.92 and a beta of 1.50. The company has a fifty day simple moving average of $336.41 and a 200 day simple moving average of $310.04.

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

Sterling Infrastructure declared that its board has authorized a stock repurchase program on Wednesday, November 12th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Sterling Infrastructure Company 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.