Boston Partners Sells 29,118 Shares of Sterling Infrastructure, Inc. $STRL

Boston Partners decreased its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 11.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,829 shares of the construction company’s stock after selling 29,118 shares during the period. Boston Partners owned about 0.76% of Sterling Infrastructure worth $55,654,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Sterling Infrastructure by 30.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company’s stock valued at $8,882,000 after acquiring an additional 18,254 shares during the period. Alps Advisors Inc. boosted its position in Sterling Infrastructure by 6.8% during the first quarter. Alps Advisors Inc. now owns 2,985 shares of the construction company’s stock valued at $338,000 after purchasing an additional 190 shares in the last quarter. Cerity Partners LLC grew its stake in Sterling Infrastructure by 40.9% in the first quarter. Cerity Partners LLC now owns 6,601 shares of the construction company’s stock valued at $747,000 after purchasing an additional 1,916 shares during the last quarter. Xponance Inc. grew its stake in Sterling Infrastructure by 6.0% in the first quarter. Xponance Inc. now owns 2,272 shares of the construction company’s stock valued at $257,000 after purchasing an additional 128 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in Sterling Infrastructure by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 50,936 shares of the construction company’s stock worth $5,766,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STRL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. DA Davidson raised their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Finally, Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Sterling Infrastructure currently has an average rating of “Moderate Buy” and a consensus target price of $460.00.

Sterling Infrastructure Stock Down 0.1%

Sterling Infrastructure stock opened at $380.70 on Thursday. The business’s 50-day simple moving average is $352.18 and its two-hundred day simple moving average is $272.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $11.69 billion, a PE ratio of 41.38, a PEG ratio of 2.98 and a beta of 1.39. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $419.14.

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

Sterling Infrastructure announced that its board has approved a stock repurchase plan on Wednesday, November 12th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.