Convergence Investment Partners LLC Has $1.33 Million Stake in Sterling Infrastructure, Inc. $STRL

Convergence Investment Partners LLC lifted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,774 shares of the construction company’s stock after purchasing an additional 60 shares during the quarter. Convergence Investment Partners LLC’s holdings in Sterling Infrastructure were worth $1,332,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. raised its position in shares of Sterling Infrastructure by 119.3% during the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after purchasing an additional 68 shares during the period. Envestnet Asset Management Inc. raised its position in Sterling Infrastructure by 42.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 111,884 shares of the construction company’s stock valued at $25,815,000 after buying an additional 33,430 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Sterling Infrastructure by 405.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,567 shares of the construction company’s stock valued at $362,000 after buying an additional 1,257 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in Sterling Infrastructure in the 2nd quarter valued at $291,000. Finally, AlphaQuest LLC raised its position in Sterling Infrastructure by 453.9% in the 2nd quarter. AlphaQuest LLC now owns 3,041 shares of the construction company’s stock valued at $702,000 after buying an additional 2,492 shares during the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Up 7.1%

STRL stock opened at $379.08 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.80 and a beta of 1.38. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $384.00. The stock has a fifty day moving average of $325.04 and a 200-day moving average of $250.22.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. The company had revenue of $403.58 million during the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Analyst Ratings Changes

STRL has been the subject of a number of analyst reports. Wall Street Zen lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Zacks Research upgraded Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Sterling Infrastructure in a research note on Saturday. Finally, DA Davidson upped their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, Sterling Infrastructure currently has an average rating of “Buy” and a consensus target price of $355.00.

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.