Neo Ivy Capital Management Sells 16,586 Shares of Sterling Infrastructure, Inc. $STRL

Neo Ivy Capital Management decreased its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 88.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,062 shares of the construction company’s stock after selling 16,586 shares during the period. Neo Ivy Capital Management’s holdings in Sterling Infrastructure were worth $476,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ameritas Advisory Services LLC bought a new stake in shares of Sterling Infrastructure in the second quarter worth approximately $29,000. Bessemer Group Inc. boosted its holdings in Sterling Infrastructure by 119.3% in 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 last quarter. Golden State Wealth Management LLC grew its position in Sterling Infrastructure by 54.8% in the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock worth $33,000 after purchasing an additional 51 shares during the period. Armstrong Advisory Group Inc. raised its stake in Sterling Infrastructure by 93.2% during the 2nd 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 during the last quarter. Finally, MCF Advisors LLC raised its stake in Sterling Infrastructure by 97.7% during the 2nd quarter. MCF Advisors LLC now owns 172 shares of the construction company’s stock valued at $40,000 after buying an additional 85 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Up 0.2%

Shares of NASDAQ:STRL opened at $315.10 on Friday. The stock has a 50 day moving average of $356.51 and a 200 day moving average of $280.20. The company has a market cap of $9.68 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $419.14.

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

Sterling Infrastructure announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

STRL has been the subject of several research analyst reports. Wall Street Zen lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, DA Davidson raised their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Sterling Infrastructure presently has a consensus rating of “Moderate Buy” and a consensus price target of $460.00.

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.