Penn Capital Management Company LLC Acquires 1,906 Shares of Sterling Infrastructure, Inc. $STRL

Penn Capital Management Company LLC bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 1,906 shares of the construction company’s stock, valued at approximately $947,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of 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 purchasing an additional 3,164,551 shares in the last quarter. BlackRock Inc. bought a new position in Sterling Infrastructure in the second quarter worth about $2,713,946,000. Jupiter Topco LLC bought a new position in Sterling Infrastructure in the second quarter worth about $395,056,000. First Trust Advisors LP raised its stake in 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 buying an additional 188,048 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in 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 buying an additional 43,259 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on STRL shares. Stifel Nicolaus cut their price objective on Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $742.00 target price on shares of Sterling Infrastructure in a report on Thursday, October 29th. Wall Street Zen raised Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. started coverage on Sterling Infrastructure in a research note on Tuesday. They issued an “overweight” rating and a $585.00 target price for the company. Finally, DA Davidson lowered their target price on Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $709.14.

Sterling Infrastructure Stock Down 0.4%

NASDAQ:STRL opened at $289.56 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50-day moving average price is $444.80 and its 200-day moving average price is $548.09. The company has a market capitalization of $8.83 billion, a PE ratio of 15.00, a P/E/G ratio of 0.54 and a beta of 1.97. Sterling Infrastructure, Inc. has a 1-year low of $239.35 and a 1-year high of $1,005.68.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.20 by $1.38. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Sterling Infrastructure’s revenue for the quarter was up 127.0% on a year-over-year basis. On average, equities analysts predict that Sterling Infrastructure, Inc. will post 20.96 EPS for the current fiscal year.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc. (NASDAQ: STRL) is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments. E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.