Sterling Infrastructure, Inc. $STRL Shares Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC raised its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 16.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,471 shares of the construction company’s stock after buying an additional 4,691 shares during the quarter. Sterling Infrastructure comprises about 2.7% of Lisanti Capital Growth LLC’s portfolio, making the stock its 2nd biggest holding. Lisanti Capital Growth LLC owned approximately 0.11% of Sterling Infrastructure worth $11,030,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new position in Sterling Infrastructure during the second quarter worth about $26,000. Root Financial Partners LLC acquired a new stake in Sterling Infrastructure in the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Sterling Infrastructure during the third quarter worth $28,000. Ameritas Advisory Services LLC purchased a new position in shares of Sterling Infrastructure in the 2nd quarter valued at about $29,000. Finally, Bessemer Group Inc. increased its stake in 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 purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Sterling Infrastructure

In other news, Director Dwayne Andree Wilson sold 2,860 shares of the 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 completion of the sale, the director directly owned 14,749 shares of the company’s stock, valued at $5,162,150. This represents a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Down 5.6%

Shares of Sterling Infrastructure stock opened at $357.91 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 capitalization of $10.99 billion, a PE ratio of 35.09, a P/E/G ratio of 2.22 and a beta of 1.50. 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 business has a 50-day moving average of $328.83 and a 200-day moving average of $322.86.

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

Sterling Infrastructure announced that its board has authorized a stock repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management 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.