Pekin Hardy Strauss Inc. bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) during the 3rd quarter, HoldingsChannel reports. The fund bought 2,685 shares of the construction company’s stock, valued at approximately $1,320,000.
Several other large investors have also recently added to or reduced their stakes in STRL. State Street Corp raised its stake in Sterling Infrastructure by 290.7% during the 2nd quarter. State Street Corp now owns 4,253,073 shares of the construction company’s stock valued at $3,569,859,000 after acquiring an additional 3,164,551 shares in the last quarter. BlackRock Inc. bought a new position in shares of Sterling Infrastructure in the second quarter worth $2,713,946,000. Jupiter Topco LLC bought a new position in shares of Sterling Infrastructure in the second quarter worth $395,056,000. First Trust Advisors LP grew its stake in shares of Sterling Infrastructure by 27.3% in the first quarter. First Trust Advisors LP now owns 877,990 shares of the construction company’s stock worth $357,579,000 after purchasing an additional 188,048 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Sterling Infrastructure by 7.5% in the first quarter. Janus Henderson Group PLC now owns 619,145 shares of the construction company’s stock worth $252,207,000 after purchasing an additional 43,259 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently commented on STRL shares. Wall Street Zen raised Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a report on Saturday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $742.00 price objective on shares of Sterling Infrastructure in a report on Thursday, October 29th. Stifel Nicolaus decreased their target price on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Weiss Ratings cut shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Finally, Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $729.83.
Check Out Our Latest Report on Sterling Infrastructure
Sterling Infrastructure Price Performance
NASDAQ STRL traded up $8.48 on Friday, reaching $252.82. 1,657,673 shares of the stock traded hands, compared to its average volume of 845,651. The firm’s fifty day simple moving average is $452.01 and its 200 day simple moving average is $548.82. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.63 and a beta of 1.97. Sterling Infrastructure, Inc. has a 12 month low of $239.35 and a 12 month high of $1,005.68.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.20 by $1.38. Sterling Infrastructure had a return on equity of 45.97% and a net margin of 12.85%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.19 billion. The firm’s revenue for the quarter was up 127.0% on a year-over-year basis. As a group, research analysts predict that Sterling Infrastructure, Inc. will post 20.96 EPS for the current fiscal year.
Sterling Infrastructure Profile
Sterling Infrastructure, Inc is a U.S.-based infrastructure services company that provides construction and specialty contracting solutions through three principal business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.
Its E-Infrastructure Solutions segment supports the development of data centers, advanced manufacturing facilities, energy and power infrastructure, and other large-scale industrial projects. Transportation Solutions provides construction and rehabilitation services for highways, roads, bridges, airports, rail and transit systems, and related public infrastructure.
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