CI Investments Inc. Buys Shares of 99,201 Sterling Infrastructure, Inc. $STRL

CI Investments Inc. purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 99,201 shares of the construction company’s stock, valued at approximately $40,402,000. CI Investments Inc. owned about 0.32% of Sterling Infrastructure at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC purchased a new stake in Sterling Infrastructure in the fourth quarter worth about $2,105,000. Truist Financial Corp lifted its position in shares of Sterling Infrastructure by 30.8% during the 4th quarter. Truist Financial Corp now owns 5,005 shares of the construction company’s stock valued at $1,533,000 after buying an additional 1,179 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Sterling Infrastructure by 28.2% during the 1st quarter. Private Advisor Group LLC now owns 7,099 shares of the construction company’s stock valued at $2,891,000 after buying an additional 1,561 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Sterling Infrastructure during the 1st quarter valued at approximately $4,704,000. Finally, Diversify Wealth Management LLC grew its stake in shares of Sterling Infrastructure by 45.1% during the 1st quarter. Diversify Wealth Management LLC now owns 12,156 shares of the construction company’s stock valued at $4,951,000 after acquiring an additional 3,779 shares during the period. Institutional investors own 80.95% of the company’s stock.

Insider Buying and Selling at Sterling Infrastructure

In related news, CEO Joseph A. Cutillo sold 50,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $497.57, for a total transaction of $24,878,500.00. Following the completion of the transaction, the chief executive officer directly owned 290,593 shares of the company’s stock, valued at approximately $144,590,359.01. This trade represents a 14.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Mark D. Wolf sold 2,500 shares of Sterling Infrastructure stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $888.00, for a total transaction of $2,220,000.00. Following the completion of the sale, the general counsel owned 28,137 shares in the company, valued at approximately $24,985,656. This represents a 8.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.60% of the company’s stock.

Sterling Infrastructure Stock Up 6.8%

NASDAQ STRL opened at $694.40 on Wednesday. The stock’s 50 day moving average is $792.78 and its 200 day moving average is $561.03. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. Sterling Infrastructure, Inc. has a 12 month low of $230.00 and a 12 month high of $1,005.68. The stock has a market cap of $21.31 billion, a PE ratio of 62.11, a P/E/G ratio of 2.36 and a beta of 1.83.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Monday, May 4th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $1.30. The business had revenue of $825.67 million during the quarter, compared to analyst estimates of $603.58 million. Sterling Infrastructure had a net margin of 12.02% and a return on equity of 35.64%. During the same period last year, the firm posted $1.63 EPS. Sterling Infrastructure has set its FY 2026 guidance at 18.400-19.050 EPS. Research analysts predict that Sterling Infrastructure, Inc. will post 18.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on STRL. Zacks Research raised shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Monday, June 1st. KeyCorp increased their price objective on shares of Sterling Infrastructure from $889.00 to $922.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. Oppenheimer initiated coverage on shares of Sterling Infrastructure in a research report on Thursday, May 28th. They set an “outperform” rating and a $950.00 price objective on the stock. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings raised shares of Sterling Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $720.67.

About Sterling Infrastructure

Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.

The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.