1,687 Shares in Sterling Infrastructure, Inc. $STRL Bought by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,687 shares of the construction company’s stock, valued at approximately $573,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its position in shares of Sterling Infrastructure by 16.1% in the second quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock worth $68,000 after buying an additional 41 shares during the period. CWC Advisors LLC. boosted its holdings in Sterling Infrastructure by 2.4% in the 2nd quarter. CWC Advisors LLC. now owns 1,858 shares of the construction company’s stock worth $429,000 after acquiring an additional 43 shares during the period. Richardson Financial Services Inc. grew its position in Sterling Infrastructure by 32.9% in the second quarter. Richardson Financial Services Inc. now owns 190 shares of the construction company’s stock valued at $42,000 after acquiring an additional 47 shares in the last quarter. Private Trust Co. NA grew its position in Sterling Infrastructure by 9.4% in the second quarter. Private Trust Co. NA now owns 591 shares of the construction company’s stock valued at $136,000 after acquiring an additional 51 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of Sterling Infrastructure by 54.8% during the second quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock valued at $33,000 after purchasing an additional 51 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Price Performance

Shares of STRL stock opened at $297.62 on Friday. The firm has a fifty day moving average of $332.96 and a two-hundred day moving average of $309.96. The firm has a market cap of $9.14 billion, a P/E ratio of 29.18, a P/E/G ratio of 1.83 and a beta of 1.50. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $419.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share (EPS) for the quarter. The business had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. As a group, research analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday. DA Davidson upped their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Sterling Infrastructure in a research note on Monday, December 29th. Finally, Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Sterling Infrastructure presently has an average rating of “Moderate Buy” and an average target price of $460.00.

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.