Sterling Infrastructure, Inc. $STRL Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 51.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,443 shares of the construction company’s stock after selling 78,124 shares during the period. WCM Investment Management LLC owned approximately 0.24% of Sterling Infrastructure worth $24,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STRL. Twin Peaks Wealth Advisors LLC acquired a new stake in Sterling Infrastructure during the second quarter worth about $26,000. Root Financial Partners LLC purchased a new stake in shares of Sterling Infrastructure during the 3rd quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Sterling Infrastructure during the 3rd quarter worth approximately $28,000. Ameritas Advisory Services LLC purchased a new position in Sterling Infrastructure in the second quarter valued at approximately $29,000. Finally, Bessemer Group Inc. lifted its position in Sterling Infrastructure by 119.3% during the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock valued at $29,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

NASDAQ:STRL opened at $367.95 on Tuesday. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $419.14. The stock has a market cap of $11.30 billion, a P/E ratio of 36.07, a PEG ratio of 2.10 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $329.34 and a two-hundred day moving average of $324.84.

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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson increased their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Finally, Cantor Fitzgerald assumed coverage on Sterling Infrastructure in a research report on Friday, January 23rd. They issued an “overweight” rating and a $413.00 target price for the company. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 14,749 shares of the company’s stock, valued at $5,162,150. This trade represents a 16.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

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.