Gerber Kawasaki Wealth & Investment Management Buys 2,218 Shares of Sterling Infrastructure, Inc. $STRL

Gerber Kawasaki Wealth & Investment Management increased its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 176.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,473 shares of the construction company’s stock after purchasing an additional 2,218 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Sterling Infrastructure were worth $1,708,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Sterling Infrastructure during the 2nd quarter valued at about $2,713,946,000. State Street Corp increased its position in shares of Sterling Infrastructure by 290.7% during the second quarter. State Street Corp now owns 4,253,073 shares of the construction company’s stock valued at $3,569,859,000 after buying an additional 3,164,551 shares during the period. Jupiter Topco LLC purchased a new stake in shares of Sterling Infrastructure in the second quarter worth about $395,056,000. First Trust Advisors LP lifted its holdings 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 buying an additional 188,048 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sterling Infrastructure in the second quarter worth about $144,725,000. Institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $742.00 target price on shares of Sterling Infrastructure in a report on Thursday, October 29th. Stifel Nicolaus lowered their target price on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. DA Davidson cut their price target on shares of Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating for the company in a report on Friday, October 30th. Finally, Weiss Ratings downgraded shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Sterling Infrastructure has an average rating of “Moderate Buy” and a consensus price target of $729.83.

Sterling Infrastructure Trading Up 7.7%

Shares of STRL opened at $361.14 on Wednesday. The stock has a market capitalization of $11.01 billion, a P/E ratio of 20.27, a PEG ratio of 0.63 and a beta of 1.97. Sterling Infrastructure, Inc. has a twelve month low of $281.58 and a twelve month high of $1,005.68. 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 firm has a fifty day simple moving average of $466.20 and a two-hundred day simple moving average of $550.10.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Wednesday, October 28th. The construction company reported $7.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.20 by $1.38. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The company’s revenue was up 127.0% compared to the same quarter last year. On average, research analysts anticipate that Sterling Infrastructure, Inc. will post 20.91 EPS for the current year.

About Sterling Infrastructure

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.