Sterling Infrastructure, Inc. $STRL Position Boosted by Washburn Capital Management Inc.

Washburn Capital Management Inc. boosted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 267.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,303 shares of the construction company’s stock after buying an additional 2,403 shares during the quarter. Sterling Infrastructure makes up about 0.6% of Washburn Capital Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Washburn Capital Management Inc.’s holdings in Sterling Infrastructure were worth $1,122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in STRL. Wilmington Savings Fund Society FSB bought a new position in Sterling Infrastructure during the third quarter worth $28,000. Bogart Wealth LLC lifted its position in shares of Sterling Infrastructure by 535.7% in the 3rd quarter. Bogart Wealth LLC now owns 89 shares of the construction company’s stock worth $30,000 after buying an additional 75 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Sterling Infrastructure in the 2nd quarter valued at about $26,000. Ameritas Advisory Services LLC bought a new stake in shares of Sterling Infrastructure during the 2nd quarter valued at about $29,000. Finally, Bessemer Group Inc. raised its stake in Sterling Infrastructure by 119.3% during the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after acquiring an additional 68 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Price Performance

Shares of STRL opened at $350.96 on Friday. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $419.14. The stock’s fifty day moving average is $325.22 and its 200-day moving average is $313.97. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $10.78 billion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 1.97 and a beta of 1.50.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Monday, November 3rd. The construction company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.69. The business had revenue of $689.02 million during the quarter, compared to the consensus estimate of $618.80 million. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. Equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure declared that its board has authorized a stock buyback plan on Wednesday, November 12th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to buy up to 3.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on STRL shares. Weiss Ratings downgraded Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson upped their price target 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. Finally, Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $460.00.

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.