Convergence Investment Partners LLC Raises Stake in Sterling Infrastructure, Inc. $STRL

Convergence Investment Partners LLC increased its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 1.1% during the second quarter, HoldingsChannel.com reports. The firm owned 5,774 shares of the construction company’s stock after buying an additional 60 shares during the period. Convergence Investment Partners LLC’s holdings in Sterling Infrastructure were worth $1,332,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Sterling Infrastructure by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company’s stock worth $303,742,000 after purchasing an additional 159,191 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Sterling Infrastructure by 7.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,498,999 shares of the construction company’s stock worth $169,702,000 after purchasing an additional 105,222 shares in the last quarter. Congress Asset Management Co. lifted its holdings in Sterling Infrastructure by 2.9% during the 2nd quarter. Congress Asset Management Co. now owns 547,688 shares of the construction company’s stock worth $126,368,000 after purchasing an additional 15,490 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in Sterling Infrastructure by 37.7% during the 1st quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company’s stock worth $56,608,000 after purchasing an additional 136,777 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Sterling Infrastructure by 743.9% during the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock worth $55,857,000 after purchasing an additional 434,925 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $379.08 on Monday. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 41.20, a P/E/G ratio of 2.80 and a beta of 1.38. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $384.00. The stock’s 50-day moving average is $325.04 and its 200 day moving average is $250.22.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. The company had revenue of $403.58 million for the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%. On average, sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STRL. DA Davidson raised their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Weiss Ratings restated a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Saturday. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Zacks Research upgraded shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $355.00.

Sterling Infrastructure Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.