Meridian Wealth Management LLC Makes New $236,000 Investment in Sterling Infrastructure, Inc. $STRL

Meridian Wealth Management LLC acquired a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,024 shares of the construction company’s stock, valued at approximately $236,000.

Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in Sterling Infrastructure by 30.3% in the first quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company’s stock valued at $8,882,000 after buying an additional 18,254 shares during the period. Cerity Partners LLC increased its holdings in Sterling Infrastructure by 40.9% in the 1st 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 in the last quarter. Victory Capital Management Inc. increased its holdings in Sterling Infrastructure by 58.1% in the 1st quarter. Victory Capital Management Inc. now owns 73,968 shares of the construction company’s stock valued at $8,374,000 after purchasing an additional 27,182 shares in the last quarter. Jennison Associates LLC raised its position in Sterling Infrastructure by 7.1% in the first quarter. Jennison Associates LLC now owns 5,803 shares of the construction company’s stock valued at $657,000 after purchasing an additional 386 shares during the period. Finally, Diversify Advisory Services LLC lifted its stake in shares of Sterling Infrastructure by 52.7% during the first quarter. Diversify Advisory Services LLC now owns 2,619 shares of the construction company’s stock worth $296,000 after purchasing an additional 904 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Analyst Ratings Changes

STRL has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. DA Davidson increased their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. 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 lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $460.00.

Sterling Infrastructure Stock Up 0.3%

STRL stock opened at $333.88 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $355.85 and a 200-day simple moving average of $278.53. The company has a market capitalization of $10.26 billion, a P/E ratio of 36.29, a PEG ratio of 2.98 and a beta of 1.39. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $419.14.

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

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

About Sterling Infrastructure

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.