Illinois Municipal Retirement Fund Buys 4,079 Shares of Sterling Infrastructure, Inc. $STRL

Illinois Municipal Retirement Fund lifted its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 26.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,274 shares of the construction company’s stock after acquiring an additional 4,079 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of Sterling Infrastructure worth $6,547,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Sterling Infrastructure by 62.0% in the second quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock worth $261,129,000 after purchasing an additional 433,311 shares in the last quarter. Invesco Ltd. grew its position in shares of Sterling Infrastructure by 82.7% in the 2nd quarter. Invesco Ltd. now owns 735,910 shares of the construction company’s stock worth $169,797,000 after buying an additional 333,013 shares during the last quarter. Frontier Capital Management Co. LLC bought a new position in shares of Sterling Infrastructure during the 2nd quarter worth approximately $35,931,000. American Century Companies Inc. lifted its position in Sterling Infrastructure by 61.6% during the second quarter. American Century Companies Inc. now owns 354,372 shares of the construction company’s stock valued at $81,764,000 after acquiring an additional 135,107 shares during the last quarter. Finally, Aperture Investors LLC acquired a new stake in Sterling Infrastructure in the second quarter valued at approximately $23,945,000. Institutional investors own 80.95% of the company’s stock.

Wall Street Analysts Forecast Growth

STRL has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $486.00 price target on Sterling Infrastructure and gave the stock a “buy” rating in a research report on Wednesday. DA Davidson increased their price target on 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 downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Cantor Fitzgerald assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price objective on the stock. Finally, Weiss Ratings raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $453.00.

Sterling Infrastructure Stock Up 1.5%

Sterling Infrastructure stock opened at $437.77 on Friday. The business’s 50-day simple moving average is $342.63 and its two-hundred day simple moving average is $333.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $13.45 billion, a PE ratio of 42.92, a PEG ratio of 2.53 and a beta of 1.51. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $470.00.

Sterling Infrastructure declared that its Board of Directors has initiated a stock buyback plan on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the completion of the sale, the director directly owned 14,749 shares in the company, valued at approximately $5,162,150. The trade was a 16.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $410.00, for a total transaction of $820,000.00. Following the completion of the sale, the director owned 11,498 shares in the company, valued at $4,714,180. The trade was a 14.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,860 shares of company stock valued at $2,611,000 over the last three months. 3.70% of the stock is currently owned by insiders.

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.