Counterpoint Mutual Funds LLC Sells 1,865 Shares of Sterling Infrastructure, Inc. $STRL

Counterpoint Mutual Funds LLC lowered its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 56.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,462 shares of the construction company’s stock after selling 1,865 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Sterling Infrastructure were worth $497,000 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 the stock. UMB Bank n.a. lifted its holdings in shares of Sterling Infrastructure by 27.5% in the third quarter. UMB Bank n.a. now owns 130 shares of the construction company’s stock valued at $44,000 after purchasing an additional 28 shares in the last quarter. Fifth Third Bancorp raised its position in Sterling Infrastructure by 76.1% in the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock valued at $28,000 after buying an additional 35 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Sterling Infrastructure by 16.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock valued at $68,000 after acquiring an additional 41 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Sterling Infrastructure by 22.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 233 shares of the construction company’s stock valued at $79,000 after acquiring an additional 43 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in Sterling Infrastructure by 54.8% during 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. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Stock Up 5.8%

STRL opened at $459.72 on Wednesday. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $470.00. The company’s 50-day moving average price is $357.44 and its two-hundred day moving average price is $341.46. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 45.07, a PEG ratio of 2.48 and a beta of 1.51. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26.

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

Analyst Ratings Changes

Several analysts have recently commented on STRL shares. Stifel Nicolaus set a $486.00 target price on shares of Sterling Infrastructure and gave the company a “buy” rating in a report on Wednesday, February 11th. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. DA Davidson upped their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Cantor Fitzgerald began coverage on Sterling Infrastructure in a research report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price target for the company. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Sterling Infrastructure presently has a consensus rating of “Moderate Buy” and a consensus target price of $453.00.

Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $410.00, for a total transaction of $820,000.00. Following the transaction, the director owned 11,498 shares of the company’s stock, valued at $4,714,180. This represents a 14.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwayne Andree Wilson sold 2,860 shares of the 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 transaction, the director owned 14,749 shares of the company’s stock, valued at $5,162,150. The trade was a 16.24% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 6,860 shares of company stock worth $2,611,000. 2.70% of the stock is owned by company insiders.

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.