The Manufacturers Life Insurance Company Decreases Stock Position in Sterling Infrastructure, Inc. $STRL

The Manufacturers Life Insurance Company trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 25.5% in the second quarter, Holdings Channel.com reports. The firm owned 24,925 shares of the construction company’s stock after selling 8,529 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sterling Infrastructure were worth $20,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Devon Energy Corp DE acquired a new stake in shares of Sterling Infrastructure during the second quarter valued at about $548,390,288,000. BlackRock Inc. acquired a new position in shares of Sterling Infrastructure in the second quarter worth about $2,713,946,000. State Street Corp lifted its stake in shares of Sterling Infrastructure by 62.0% in the second quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock worth $261,129,000 after acquiring an additional 433,311 shares in the last quarter. Invesco Ltd. boosted its holdings in Sterling Infrastructure by 29.8% in the third quarter. Invesco Ltd. now owns 955,387 shares of the construction company’s stock valued at $324,526,000 after purchasing an additional 219,477 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings 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 valued at $357,579,000 after purchasing an additional 188,048 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Up 1.8%

Shares of NASDAQ STRL opened at $506.37 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $646.36 and its two-hundred day moving average price is $602.19. Sterling Infrastructure, Inc. has a 52-week low of $266.13 and a 52-week high of $1,005.68. The stock has a market capitalization of $15.49 billion, a P/E ratio of 36.51, a PEG ratio of 1.73 and a beta of 1.88.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, August 3rd. The construction company reported $5.80 EPS for the quarter, topping the consensus estimate of $5.01 by $0.79. Sterling Infrastructure had a return on equity of 40.12% and a net margin of 12.55%.The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $969.22 million. The company’s revenue was up 90.4% on a year-over-year basis. Sterling Infrastructure has set its FY 2026 guidance at 19.700-20.300 EPS. On average, analysts anticipate that Sterling Infrastructure, Inc. will post 19.14 earnings per share for the current fiscal year.

Insider Transactions at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $888.00, for a total transaction of $2,220,000.00. Following the transaction, the general counsel directly owned 28,137 shares in the company, valued at $24,985,656. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on STRL. Wall Street Zen upgraded Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a research note on Monday. Cantor Fitzgerald reduced their target price on Sterling Infrastructure from $956.00 to $742.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. DA Davidson started coverage on shares of Sterling Infrastructure in a research report on Friday, August 21st. They set a “buy” rating and a $700.00 price target for the company. Weiss Ratings lowered shares of Sterling Infrastructure from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Finally, Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $690.33.

Sterling Infrastructure 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.