2,685 Shares in Sterling Infrastructure, Inc. $STRL Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the third quarter, according to its most recent filing with the SEC. The fund purchased 2,685 shares of the construction company’s stock, valued at approximately $1,320,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Advisory Services LLC raised its holdings in shares of Sterling Infrastructure by 79.9% during the third quarter. Kestra Advisory Services LLC now owns 4,732 shares of the construction company’s stock worth $2,327,000 after purchasing an additional 2,102 shares during the period. Conestoga Capital Advisors LLC acquired a new position in shares of Sterling Infrastructure in the 3rd quarter valued at about $9,430,000. Kestra Private Wealth Services LLC boosted its holdings in shares of Sterling Infrastructure by 22.3% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 6,276 shares of the construction company’s stock valued at $3,086,000 after buying an additional 1,143 shares during the period. Guardian Wealth Management Inc. boosted its holdings in shares of Sterling Infrastructure by 3.4% in the 3rd quarter. Guardian Wealth Management Inc. now owns 10,394 shares of the construction company’s stock valued at $5,112,000 after buying an additional 346 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Sterling Infrastructure during the 3rd quarter valued at about $208,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STRL has been the topic of several research reports. DA Davidson dropped their price objective on shares of Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $742.00 target price on shares of Sterling Infrastructure in a report on Thursday, October 29th. Wall Street Zen upgraded Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, Stifel Nicolaus lowered their target price on Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $729.83.

Sterling Infrastructure Stock Performance

STRL stock traded up $8.48 during mid-day trading on Friday, reaching $252.82. The company had a trading volume of 1,657,673 shares, compared to its average volume of 845,651. Sterling Infrastructure, Inc. has a one year low of $239.35 and a one year high of $1,005.68. The stock has a market capitalization of $7.71 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.63 and a beta of 1.97. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $452.01 and its two-hundred day simple moving average is $548.82.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 EPS for the quarter, topping the consensus estimate of $6.20 by $1.38. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.19 billion. The company’s quarterly revenue was up 127.0% compared to the same quarter last year. Research analysts anticipate that Sterling Infrastructure, Inc. will post 20.96 EPS for the current year.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc is a U.S.-based infrastructure services company that provides construction and specialty contracting solutions through three principal business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.

Its E-Infrastructure Solutions segment supports the development of data centers, advanced manufacturing facilities, energy and power infrastructure, and other large-scale industrial projects. Transportation Solutions provides construction and rehabilitation services for highways, roads, bridges, airports, rail and transit systems, and related public infrastructure.