Bank of New York Mellon Corp Trims Position in Sterling Infrastructure, Inc. $STRL

Bank of New York Mellon Corp decreased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 0.6% during the 1st quarter, HoldingsChannel reports. The fund owned 187,112 shares of the construction company’s stock after selling 1,089 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sterling Infrastructure were worth $76,205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Sterling Infrastructure during the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its holdings in Sterling Infrastructure by 33.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 107 shares of the construction company’s stock valued at $33,000 after purchasing an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Sterling Infrastructure by 8,000.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 81 shares of the construction company’s stock valued at $33,000 after buying an additional 80 shares during the period. Rakuten Securities Inc. grew its stake in shares of Sterling Infrastructure by 6,950.0% in the 2nd quarter. Rakuten Securities Inc. now owns 141 shares of the construction company’s stock valued at $33,000 after buying an additional 139 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Sterling Infrastructure by 316.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 104 shares of the construction company’s stock worth $35,000 after buying an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 50,000 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $497.57, for a total transaction of $24,878,500.00. Following the transaction, the chief executive officer directly owned 290,593 shares in the company, valued at $144,590,359.01. This represents a 14.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $2,220,000.00. Following the transaction, the general counsel owned 28,137 shares of the company’s stock, valued at approximately $24,985,656. This represents a 8.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by company insiders.

Sterling Infrastructure Trading Up 6.8%

Shares of STRL stock opened at $694.40 on Wednesday. Sterling Infrastructure, Inc. has a 1-year low of $230.00 and a 1-year high of $1,005.68. The firm has a market cap of $21.31 billion, a PE ratio of 62.11, a price-to-earnings-growth ratio of 2.36 and a beta of 1.83. The company has a 50-day moving average of $792.78 and a two-hundred day moving average of $561.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 1.10.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, May 4th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $1.30. Sterling Infrastructure had a net margin of 12.02% and a return on equity of 35.64%. The business had revenue of $825.67 million for the quarter, compared to the consensus estimate of $603.58 million. During the same period in the previous year, the firm earned $1.63 EPS. Sterling Infrastructure has set its FY 2026 guidance at 18.400-19.050 EPS. On average, analysts predict that Sterling Infrastructure, Inc. will post 18.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp lifted their price target on shares of Sterling Infrastructure from $889.00 to $922.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Oppenheimer began coverage on Sterling Infrastructure in a research report on Thursday, May 28th. They issued an “outperform” rating and a $950.00 price objective for the company. Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Argus began coverage on Sterling Infrastructure in a research report on Thursday, April 16th. They issued a “buy” rating and a $510.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Sterling Infrastructure in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $720.67.

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.