Emerald Advisers LLC Has $28.05 Million Position in Sterling Infrastructure, Inc. $STRL

Emerald Advisers LLC grew its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 50.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 82,582 shares of the construction company’s stock after buying an additional 27,627 shares during the period. Emerald Advisers LLC’s holdings in Sterling Infrastructure were worth $28,051,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its holdings in Sterling Infrastructure by 62.0% in the second quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock valued at $261,129,000 after acquiring an additional 433,311 shares during the last quarter. Invesco Ltd. lifted its position in shares of Sterling Infrastructure by 82.7% in the 2nd quarter. Invesco Ltd. now owns 735,910 shares of the construction company’s stock worth $169,797,000 after purchasing an additional 333,013 shares during the period. Frontier Capital Management Co. LLC bought a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at $35,931,000. American Century Companies Inc. increased its position in shares of Sterling Infrastructure by 61.6% during the second quarter. American Century Companies Inc. now owns 354,372 shares of the construction company’s stock worth $81,764,000 after buying an additional 135,107 shares during the period. Finally, Aperture Investors LLC bought a new position in Sterling Infrastructure during the second quarter worth $23,945,000. 80.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. DA Davidson upped their price target 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. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings cut Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $460.00.

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 shares were sold at an average price of $350.00, for a total value of $1,001,000.00. Following the completion of the sale, the director owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. This trade represents a 16.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $362.53 on Thursday. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $419.14. The company has a market cap of $11.14 billion, a PE ratio of 35.54, a P/E/G ratio of 2.05 and a beta of 1.50. The stock has a 50-day moving average of $323.55 and a 200-day moving average of $317.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00.

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

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