Emerald Advisers LLC Has $28.05 Million Stake in Sterling Infrastructure, Inc. $STRL

Emerald Advisers LLC grew its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 50.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,582 shares of the construction company’s stock after purchasing an additional 27,627 shares during the period. Emerald Advisers LLC owned about 0.27% of Sterling Infrastructure worth $28,051,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STRL. Root Financial Partners LLC acquired a new stake in Sterling Infrastructure during the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sterling Infrastructure during the 3rd quarter valued at $28,000. Bogart Wealth LLC grew its holdings in shares of Sterling Infrastructure by 535.7% during the 3rd quarter. Bogart Wealth LLC now owns 89 shares of the construction company’s stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Sterling Infrastructure in the second quarter worth $26,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Sterling Infrastructure in the second quarter worth $29,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STRL. Weiss Ratings downgraded shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. DA Davidson upped 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. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Finally, Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Sterling Infrastructure presently has an average rating of “Hold” and an average price target of $460.00.

Sterling Infrastructure Stock Up 3.7%

Shares of NASDAQ:STRL opened at $362.53 on Thursday. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $419.14. The company has a market capitalization of $11.14 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.05 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. The company has a fifty day moving average of $323.55 and a 200-day moving average of $317.13.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Monday, November 3rd. The construction company reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.69. The business had revenue of $689.02 million for the quarter, compared to analyst estimates of $618.80 million. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%. On average, equities analysts predict that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure announced that its board has authorized a share buyback plan on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the sale, the director directly owned 14,749 shares of the company’s stock, valued at $5,162,150. The trade was a 16.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is owned by insiders.

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.