Spire Wealth Management Sells 2,141 Shares of Sterling Infrastructure, Inc. $STRL

Spire Wealth Management reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 37.0% in the 3rd quarter, Holdings Channel reports. The firm owned 3,651 shares of the construction company’s stock after selling 2,141 shares during the quarter. Spire Wealth Management’s holdings in Sterling Infrastructure were worth $1,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at about $26,000. Ameritas Advisory Services LLC acquired a new position in shares of Sterling Infrastructure in the second quarter worth approximately $29,000. Bessemer Group Inc. boosted its holdings in Sterling Infrastructure by 119.3% in the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock valued at $29,000 after acquiring an additional 68 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Sterling Infrastructure by 54.8% in the second quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock valued at $33,000 after acquiring an additional 51 shares during the last quarter. Finally, Rakuten Securities Inc. increased its position in Sterling Infrastructure by 6,950.0% during the 2nd quarter. Rakuten Securities Inc. now owns 141 shares of the construction company’s stock valued at $33,000 after purchasing an additional 139 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Up 3.5%

Shares of NASDAQ STRL opened at $308.13 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The firm has a market cap of $9.47 billion, a PE ratio of 30.21, a P/E/G ratio of 1.74 and a beta of 1.50. The company’s fifty day simple moving average is $331.56 and its 200 day simple moving average is $310.56. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. The firm 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, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 12th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on STRL shares. 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 note on Wednesday, November 5th. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Sterling Infrastructure in a research report on Monday, December 29th. 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 MarketBeat, Sterling Infrastructure presently has a consensus rating of “Moderate Buy” and a consensus target price of $460.00.

Sterling Infrastructure 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.