Universal Beteiligungs und Servicegesellschaft mbH Reduces Stock Holdings in Sterling Infrastructure, Inc. $STRL

Universal Beteiligungs und Servicegesellschaft mbH reduced its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 11.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,475 shares of the construction company’s stock after selling 4,291 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Sterling Infrastructure were worth $11,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of STRL. Cookson Peirce & Co. Inc. acquired a new stake in Sterling Infrastructure during the second quarter worth $19,761,000. Vontobel Holding Ltd. acquired a new position in shares of Sterling Infrastructure in the 2nd quarter valued at $305,000. New York State Teachers Retirement System grew its holdings in shares of Sterling Infrastructure by 549.9% during the 2nd quarter. New York State Teachers Retirement System now owns 17,620 shares of the construction company’s stock worth $4,065,000 after purchasing an additional 14,909 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Sterling Infrastructure by 8.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,623 shares of the construction company’s stock worth $28,293,000 after purchasing an additional 9,374 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Sterling Infrastructure during the 2nd quarter worth about $35,931,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Down 3.5%

Shares of STRL opened at $351.39 on Friday. The company’s 50-day simple moving average is $324.56 and its 200-day simple moving average is $318.89. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $419.14. The stock has a market capitalization of $10.79 billion, a PE ratio of 34.45, a P/E/G ratio of 2.06 and a beta of 1.50.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.69. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The company had revenue of $689.02 million for the quarter, compared to analyst estimates of $618.80 million. Analysts forecast that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on STRL. DA Davidson upped their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Cantor Fitzgerald started coverage on shares of Sterling Infrastructure in a research note on Friday. They issued an “overweight” rating and a $413.00 price target on the stock. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings downgraded shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Insider Activity

In related news, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure 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 directly owned 14,749 shares in the company, valued at approximately $5,162,150. This trade represents a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

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.