Geode Capital Management LLC Increases Holdings in Sterling Infrastructure, Inc. $STRL

Geode Capital Management LLC increased its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 0.5% during the second quarter, HoldingsChannel.com reports. The fund owned 739,302 shares of the construction company’s stock after acquiring an additional 3,469 shares during the quarter. Geode Capital Management LLC’s holdings in Sterling Infrastructure were worth $170,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Sterling Infrastructure by 6.3% during the first quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company’s stock worth $303,742,000 after purchasing an additional 159,191 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Sterling Infrastructure by 7.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,498,999 shares of the construction company’s stock worth $169,702,000 after buying an additional 105,222 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of Sterling Infrastructure by 2.9% in the 2nd quarter. Congress Asset Management Co. now owns 547,688 shares of the construction company’s stock worth $126,368,000 after buying an additional 15,490 shares in the last quarter. Millennium Management LLC grew its stake in Sterling Infrastructure by 743.9% in the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock valued at $55,857,000 after acquiring an additional 434,925 shares during the last quarter. Finally, Boston Partners increased its holdings in Sterling Infrastructure by 42.8% during the 1st quarter. Boston Partners now owns 260,947 shares of the construction company’s stock valued at $30,308,000 after acquiring an additional 78,215 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. Finally, DA Davidson raised their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $460.00.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $333.88 on Wednesday. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $419.14. The company’s 50 day simple moving average is $355.85 and its 200 day simple moving average is $278.53. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 2.98 and a beta of 1.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. The firm had revenue of $403.58 million during the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. On average, sell-side analysts predict that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure declared that its board has authorized a stock buyback program on Wednesday, November 12th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.