Shell Asset Management Co. Sells 2,387 Shares of Sterling Infrastructure, Inc. $STRL

Shell Asset Management Co. decreased its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 62.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,429 shares of the construction company’s stock after selling 2,387 shares during the quarter. Shell Asset Management Co.’s holdings in Sterling Infrastructure were worth $485,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of Sterling Infrastructure in the second quarter valued at $26,000. Root Financial Partners LLC acquired a new stake in Sterling Infrastructure in the third quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sterling Infrastructure in the 3rd quarter valued at about $28,000. Bessemer Group Inc. increased its stake in shares of Sterling Infrastructure by 119.3% during the 2nd quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after purchasing an additional 68 shares during the last quarter. Finally, Bogart Wealth LLC increased its stake in shares of Sterling Infrastructure by 535.7% during the 3rd quarter. Bogart Wealth LLC now owns 89 shares of the construction company’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwayne Andree Wilson sold 2,860 shares of the company’s stock in a transaction dated 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 owned 14,749 shares in the company, valued at $5,162,150. This trade represents a 16.24% decrease in their ownership of the stock. 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 quarter. Company insiders own 2.70% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $421.20 on Wednesday. The firm has a market cap of $12.94 billion, a P/E ratio of 41.29, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The business’s 50 day moving average is $346.84 and its 200-day moving average is $336.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $470.00.

Sterling Infrastructure announced that its Board of Directors has initiated a share buyback program on Wednesday, November 12th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on STRL. Cantor Fitzgerald assumed coverage on Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price target for the company. Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Zacks Research downgraded 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 Sterling Infrastructure and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, 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. 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.com, Sterling Infrastructure has a consensus rating of “Moderate Buy” and an average price target of $453.00.

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.