Profund Advisors LLC Purchases Shares of 1,505 Sterling Infrastructure, Inc. $STRL

Profund Advisors LLC acquired a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,505 shares of the construction company’s stock, valued at approximately $347,000.

Other hedge funds have also modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Sterling Infrastructure during the second quarter valued at $29,000. Bessemer Group Inc. increased its stake in Sterling Infrastructure by 119.3% in the 2nd quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after purchasing an additional 68 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Sterling Infrastructure by 54.8% during the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock worth $33,000 after buying an additional 51 shares during the period. Armstrong Advisory Group Inc. lifted its stake in Sterling Infrastructure by 93.2% during the second quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company’s stock valued at $39,000 after buying an additional 82 shares in the last quarter. Finally, MCF Advisors LLC boosted its holdings in shares of Sterling Infrastructure by 97.7% in the second quarter. MCF Advisors LLC now owns 172 shares of the construction company’s stock worth $40,000 after buying an additional 85 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on STRL shares. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. DA Davidson boosted their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $460.00.

Sterling Infrastructure Stock Up 3.7%

STRL stock opened at $338.66 on Friday. The company has a 50 day moving average of $353.99 and a two-hundred day moving average of $274.37. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 36.81, a PEG ratio of 2.98 and a beta of 1.39. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $419.14. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31.

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

Sterling Infrastructure announced that its board has authorized a share buyback program on Wednesday, November 12th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the construction company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.