Vanguard Group Inc. Cuts Position in Sterling Infrastructure, Inc. $STRL

Vanguard Group Inc. decreased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 5.2% in the third quarter, Holdings Channel.com reports. The firm owned 3,260,155 shares of the construction company’s stock after selling 177,243 shares during the period. Vanguard Group Inc. owned about 0.11% of Sterling Infrastructure worth $1,107,409,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Sterling Infrastructure by 8.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,623 shares of the construction company’s stock valued at $28,293,000 after buying an additional 9,374 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in Sterling Infrastructure in the second quarter worth $35,931,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Sterling Infrastructure by 76.4% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,393 shares of the construction company’s stock worth $3,530,000 after acquiring an additional 4,500 shares during the last quarter. Emerald Advisers LLC increased its holdings in shares of Sterling Infrastructure by 50.3% during the third quarter. Emerald Advisers LLC now owns 82,582 shares of the construction company’s stock valued at $28,051,000 after acquiring an additional 27,627 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Sterling Infrastructure by 66.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,601 shares of the construction company’s stock valued at $831,000 after acquiring an additional 1,443 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STRL has been the topic of a number of analyst reports. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings upgraded shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. DA Davidson increased their price target on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Cantor Fitzgerald assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price objective for the company. Finally, Stifel Nicolaus set a $486.00 price objective on Sterling Infrastructure and gave the company a “buy” rating in a research report on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $453.00.

Insider Activity at Sterling Infrastructure

In other news, Director Dwayne Andree Wilson sold 2,860 shares of the firm’s 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 transaction, the director directly owned 14,749 shares in the company, valued at $5,162,150. This trade represents a 16.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction on Monday, February 9th. The stock was sold at an average price of $410.00, for a total value of $820,000.00. Following the completion of the sale, the director directly owned 11,498 shares of the company’s stock, valued at $4,714,180. The trade was a 14.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,860 shares of company stock worth $2,611,000 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Stock Performance

Shares of STRL stock opened at $435.50 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $352.32 and a 200-day moving average price of $339.12. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $470.00. The firm has a market capitalization of $13.38 billion, a PE ratio of 42.70, a P/E/G ratio of 2.50 and a beta of 1.51.

Sterling Infrastructure declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 12th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Sterling Infrastructure Company 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.