Vanguard Group Inc. Trims Stake in Sterling Infrastructure, Inc. $STRL

Vanguard Group Inc. lowered its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,260,155 shares of the construction company’s stock after selling 177,243 shares during the quarter. Vanguard Group Inc. owned about 10.72% of Sterling Infrastructure worth $1,107,409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Sterling Infrastructure by 8.3% in the second quarter. JPMorgan Chase & Co. now owns 122,623 shares of the construction company’s stock worth $28,293,000 after buying an additional 9,374 shares during the period. Frontier Capital Management Co. LLC bought a new position in Sterling Infrastructure during the 2nd quarter worth approximately $35,931,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Sterling Infrastructure by 76.4% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,393 shares of the construction company’s stock worth $3,530,000 after purchasing an additional 4,500 shares during the period. Emerald Advisers LLC lifted its position in Sterling Infrastructure by 50.3% in the third quarter. Emerald Advisers LLC now owns 82,582 shares of the construction company’s stock valued at $28,051,000 after purchasing an additional 27,627 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Sterling Infrastructure by 66.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,601 shares of the construction company’s stock valued at $831,000 after purchasing an additional 1,443 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $350.00, for a total value of $1,001,000.00. Following the completion of the transaction, the director owned 14,749 shares in the company, valued at approximately $5,162,150. This represents a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $410.00, for a total value of $820,000.00. Following the transaction, the director directly owned 11,498 shares of the company’s stock, valued at $4,714,180. This represents a 14.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,860 shares of company stock valued at $2,611,000. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STRL. Stifel Nicolaus set a $486.00 price target on shares of Sterling Infrastructure and gave the company a “buy” rating in a report on Wednesday, February 11th. Cantor Fitzgerald assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 target price for the company. Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, DA Davidson increased their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $453.00.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $435.50 on Friday. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $470.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day moving average is $352.32 and its 200 day moving average is $339.12. The stock has a market capitalization of $13.38 billion, a P/E ratio of 42.70, a P/E/G ratio of 2.50 and a beta of 1.51.

Sterling Infrastructure declared that its Board of Directors has initiated a stock buyback program on Wednesday, November 12th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Sterling Infrastructure Company Profile

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.