Atria Investments Inc Sells 1,946 Shares of Sterling Infrastructure, Inc. $STRL

Atria Investments Inc lowered its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 24.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,035 shares of the construction company’s stock after selling 1,946 shares during the quarter. Atria Investments Inc’s holdings in Sterling Infrastructure were worth $2,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of STRL. State Street Corp boosted its position in Sterling Infrastructure by 62.0% in the second quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock worth $261,129,000 after purchasing an additional 433,311 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Sterling Infrastructure by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 739,302 shares of the construction company’s stock worth $170,600,000 after purchasing an additional 3,469 shares during the period. Invesco Ltd. raised its stake in shares of Sterling Infrastructure by 82.7% during the 2nd quarter. Invesco Ltd. now owns 735,910 shares of the construction company’s stock worth $169,797,000 after purchasing an additional 333,013 shares during the period. American Century Companies Inc. boosted its holdings in shares of Sterling Infrastructure by 61.6% in the 2nd quarter. American Century Companies Inc. now owns 354,372 shares of the construction company’s stock worth $81,764,000 after buying an additional 135,107 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Sterling Infrastructure by 29.4% during the second quarter. Ameriprise Financial Inc. now owns 353,958 shares of the construction company’s stock valued at $81,669,000 after buying an additional 80,481 shares during the period. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Stock Down 3.8%

STRL opened at $421.20 on Wednesday. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $470.00. The company has a market cap of $12.94 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. 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 company has a 50 day moving average of $346.84 and a 200 day moving average of $336.63.

Sterling Infrastructure declared that its board has authorized a stock repurchase program on Wednesday, November 12th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $410.00, for a total value of $820,000.00. Following the completion of the transaction, the director directly owned 11,498 shares in the company, valued at approximately $4,714,180. This trade represents a 14.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director directly owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. This represents a 16.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,860 shares of company stock worth $2,611,000 in the last three months. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on STRL shares. DA Davidson lifted their price objective 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. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Stifel Nicolaus set a $486.00 price target on shares of Sterling Infrastructure and gave the stock a “buy” rating in a report on Wednesday, February 11th. Cantor Fitzgerald assumed coverage on Sterling Infrastructure in a research note on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price objective on the stock. Finally, Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $453.00.

Sterling Infrastructure Company 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.