Baader Bank Aktiengesellschaft Invests $516,000 in Sterling Infrastructure, Inc. $STRL

Baader Bank Aktiengesellschaft bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,531 shares of the construction company’s stock, valued at approximately $516,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STRL. Twin Peaks Wealth Advisors LLC bought a new position in shares of Sterling Infrastructure during the 2nd quarter valued at approximately $26,000. Root Financial Partners LLC bought a new position in Sterling Infrastructure during the third quarter valued at $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Sterling Infrastructure in the third quarter worth $28,000. Ameritas Advisory Services LLC bought a new stake in shares of Sterling Infrastructure in the second quarter valued at $29,000. Finally, Bessemer Group Inc. raised its stake in shares of Sterling Infrastructure by 119.3% in 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 during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on STRL. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. 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 note on Wednesday, November 5th. Stifel Nicolaus set a $486.00 price target on shares of Sterling Infrastructure and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Finally, Cantor Fitzgerald started coverage on shares of Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Sterling Infrastructure currently has a consensus rating of “Moderate Buy” and a consensus target price of $453.00.

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 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $410.00, for a total transaction of $820,000.00. Following the sale, the director owned 11,498 shares of the company’s stock, valued at approximately $4,714,180. The trade was a 14.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,860 shares of company stock worth $2,611,000. 3.70% of the stock is owned by corporate insiders.

Sterling Infrastructure Stock Down 0.6%

Shares of STRL opened at $431.43 on Friday. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $470.00. 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 stock has a 50 day simple moving average of $340.38 and a two-hundred day simple moving average of $332.13. The firm has a market cap of $13.25 billion, a P/E ratio of 42.30, a P/E/G ratio of 2.54 and a beta of 1.51.

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

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.