Concurrent Investment Advisors LLC lifted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 5.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,983 shares of the construction company’s stock after purchasing an additional 216 shares during the period. Concurrent Investment Advisors LLC’s holdings in Sterling Infrastructure were worth $919,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in STRL. Sunbelt Securities Inc. lifted its stake in Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Sterling Infrastructure in the 2nd quarter valued at $29,000. Armstrong Advisory Group Inc. increased its holdings in shares of Sterling Infrastructure by 93.2% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company’s stock valued at $39,000 after acquiring an additional 82 shares during the period. MCF Advisors LLC raised its position in Sterling Infrastructure by 97.7% in the 2nd quarter. MCF Advisors LLC now owns 172 shares of the construction company’s stock valued at $40,000 after purchasing an additional 85 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in Sterling Infrastructure by 32.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 190 shares of the construction company’s stock worth $42,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have issued reports on STRL. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Finally, DA Davidson increased their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Sterling Infrastructure presently has an average rating of “Buy” and a consensus price target of $355.00.
Sterling Infrastructure Trading Down 1.2%
NASDAQ STRL opened at $361.02 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $10.98 billion, a P/E ratio of 39.24, a P/E/G ratio of 2.70 and a beta of 1.38. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $376.75. The firm has a 50-day moving average price of $316.96 and a 200 day moving average price of $238.26.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last announced its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%.The company had revenue of $403.58 million for the quarter. Equities research analysts expect that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.
About Sterling Infrastructure
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.
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