Summit Global Investments Buys New Shares in Sterling Infrastructure, Inc. $STRL

Summit Global Investments bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 2nd quarter, Holdings Channel.com reports. The fund bought 1,401 shares of the construction company’s stock, valued at approximately $1,176,000.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp raised its holdings in Sterling Infrastructure by 62.0% during the second quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock valued at $261,129,000 after acquiring an additional 433,311 shares during the period. Invesco Ltd. boosted its stake in shares of Sterling Infrastructure by 29.8% in the third quarter. Invesco Ltd. now owns 955,387 shares of the construction company’s stock worth $324,526,000 after acquiring an additional 219,477 shares during the period. First Trust Advisors LP boosted its stake in shares of Sterling Infrastructure by 27.3% in the first quarter. First Trust Advisors LP now owns 877,990 shares of the construction company’s stock worth $357,579,000 after acquiring an additional 188,048 shares during the period. UBS Group AG grew its position in shares of Sterling Infrastructure by 45.4% during the third quarter. UBS Group AG now owns 483,864 shares of the construction company’s stock worth $164,359,000 after purchasing an additional 151,146 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Sterling Infrastructure by 123.3% during the fourth quarter. JPMorgan Chase & Co. now owns 262,824 shares of the construction company’s stock worth $80,485,000 after purchasing an additional 145,100 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Insider Transactions at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $888.00, for a total transaction of $2,220,000.00. Following the sale, the general counsel directly owned 28,137 shares of the company’s stock, valued at $24,985,656. This represents a 8.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Cantor Fitzgerald lowered their price target on Sterling Infrastructure from $956.00 to $742.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Wall Street Zen raised shares of Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Sterling Infrastructure from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, KeyCorp dropped their target price on shares of Sterling Infrastructure from $922.00 to $754.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Sterling Infrastructure presently has an average rating of “Moderate Buy” and a consensus price target of $657.00.

Sterling Infrastructure Trading Up 4.2%

Shares of STRL stock opened at $576.48 on Friday. Sterling Infrastructure, Inc. has a 12-month low of $263.45 and a 12-month high of $1,005.68. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average price is $704.54 and its 200-day moving average price is $591.04. The stock has a market capitalization of $17.63 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth ratio of 1.93 and a beta of 1.88.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Monday, August 3rd. The construction company reported $5.80 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.79. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $969.22 million. Sterling Infrastructure had a return on equity of 40.12% and a net margin of 12.55%.Sterling Infrastructure’s revenue was up 90.4% on a year-over-year basis. Sterling Infrastructure has set its FY 2026 guidance at 19.700-20.300 EPS. Equities research analysts predict that Sterling Infrastructure, Inc. will post 19.11 EPS for the current fiscal year.

Sterling Infrastructure Company Profile

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.