Sterling Infrastructure, Inc. $STRL Position Boosted by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust increased its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 42.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,875 shares of the construction company’s stock after purchasing an additional 14,678 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.16% of Sterling Infrastructure worth $16,602,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in STRL. Hantz Financial Services Inc. grew its position in Sterling Infrastructure by 16.1% in the second quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock worth $68,000 after buying an additional 41 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Sterling Infrastructure by 22.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 233 shares of the construction company’s stock worth $79,000 after acquiring an additional 43 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Sterling Infrastructure by 9.4% during the 2nd quarter. Private Trust Co. NA now owns 591 shares of the construction company’s stock worth $136,000 after acquiring an additional 51 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Sterling Infrastructure by 54.8% in the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Finally, Convergence Investment Partners LLC raised its position in shares of Sterling Infrastructure by 1.1% during the second quarter. Convergence Investment Partners LLC now owns 5,774 shares of the construction company’s stock worth $1,332,000 after purchasing an additional 60 shares during the period. 80.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the company’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 value of $1,001,000.00. Following the transaction, the director owned 14,749 shares in the company, valued at approximately $5,162,150. This represents a 16.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Up 0.5%

Shares of Sterling Infrastructure stock opened at $364.25 on Friday. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $419.14. The company has a market cap of $11.19 billion, a P/E ratio of 35.71, a P/E/G ratio of 2.12 and a beta of 1.50. 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 stock has a 50-day moving average price of $324.30 and a 200 day moving average price of $317.45.

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

Sterling Infrastructure declared that its board has approved a stock repurchase plan on Wednesday, November 12th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on STRL shares. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings lowered shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Finally, DA Davidson lifted 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 research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.