Prudential Financial Inc. Purchases 4,576 Shares of Sterling Infrastructure, Inc. $STRL

Prudential Financial Inc. grew its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,833 shares of the construction company’s stock after acquiring an additional 4,576 shares during the quarter. Prudential Financial Inc. owned 0.27% of Sterling Infrastructure worth $18,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quantum Private Wealth LLC bought a new stake in Sterling Infrastructure in the 2nd quarter valued at about $254,000. Charles Schwab Investment Management Inc. grew its position in Sterling Infrastructure by 6.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 341,997 shares of the construction company’s stock worth $78,909,000 after buying an additional 19,864 shares in the last quarter. American Century Companies Inc. increased its stake in Sterling Infrastructure by 61.6% during the 2nd quarter. American Century Companies Inc. now owns 354,372 shares of the construction company’s stock worth $81,764,000 after acquiring an additional 135,107 shares during the period. Segall Bryant & Hamill LLC lifted its position in shares of Sterling Infrastructure by 20.7% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 61,004 shares of the construction company’s stock valued at $14,075,000 after acquiring an additional 10,449 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Sterling Infrastructure by 83.4% during the 2nd quarter. Rhumbline Advisers now owns 87,624 shares of the construction company’s stock worth $20,217,000 after purchasing an additional 39,854 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Price Performance

Shares of STRL opened at $339.75 on Thursday. The business has a 50-day moving average of $357.55 and a 200-day moving average of $284.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $419.14.

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

Sterling Infrastructure declared that its board has initiated a stock repurchase plan on Wednesday, November 12th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. 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 report on Wednesday, November 5th. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sterling Infrastructure has a consensus rating of “Moderate Buy” and a consensus price target of $460.00.

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.