Evergreen Capital Management LLC Takes $476,000 Position in Sterling Infrastructure, Inc. $STRL

Evergreen Capital Management LLC purchased a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,401 shares of the construction company’s stock, valued at approximately $476,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure during the 2nd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Sterling Infrastructure in the 3rd quarter valued at approximately $28,000. Ameritas Advisory Services LLC bought a new stake in shares of Sterling Infrastructure during the second quarter valued at approximately $29,000. Bessemer Group Inc. grew its stake in Sterling Infrastructure by 119.3% in the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after purchasing an additional 68 shares during the period. Finally, Bogart Wealth LLC grew its stake in Sterling Infrastructure by 535.7% in the third quarter. Bogart Wealth LLC now owns 89 shares of the construction company’s stock worth $30,000 after purchasing an additional 75 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction on Friday, January 16th. The stock was sold at an average price of $350.00, for a total value of $1,001,000.00. Following the completion of the sale, the director owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. This trade represents a 16.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Performance

Shares of STRL stock opened at $362.53 on Thursday. The company has a market capitalization of $11.14 billion, a price-to-earnings 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. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $419.14. The company’s 50-day moving average is $323.55 and its 200 day moving average is $317.13.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.69. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The firm had revenue of $689.02 million for the quarter, compared to the consensus estimate of $618.80 million. Sell-side analysts expect that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. DA Davidson lifted their price target on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Finally, 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. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” 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.