Oppenheimer & Co. Inc. Has $1.67 Million Holdings in Sterling Infrastructure, Inc. $STRL

Oppenheimer & Co. Inc. cut its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 41.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,915 shares of the construction company’s stock after selling 3,428 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sterling Infrastructure were worth $1,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STRL. Root Financial Partners LLC bought a new position in Sterling Infrastructure during the 3rd quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sterling Infrastructure during the 3rd quarter valued at $28,000. Bogart Wealth LLC grew its holdings in shares of Sterling Infrastructure by 535.7% during the 3rd quarter. Bogart Wealth LLC now owns 89 shares of the construction company’s stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Sterling Infrastructure in the second quarter worth $26,000. Finally, Bessemer Group Inc. increased its position in shares of Sterling Infrastructure by 119.3% in the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after purchasing an additional 68 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sterling Infrastructure

In related news, Director Dwayne Andree Wilson sold 2,860 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the sale, the director owned 14,749 shares in the company, valued at $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 available at this hyperlink. Also, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $410.00, for a total value of $820,000.00. Following the completion of the transaction, the director directly owned 11,498 shares of the company’s stock, valued at approximately $4,714,180. The trade was a 14.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,860 shares of company stock valued at $2,611,000 over the last quarter. Company insiders own 3.70% of the company’s stock.

Sterling Infrastructure Trading Up 1.5%

STRL opened at $437.77 on Friday. The company has a market cap of $13.45 billion, a P/E ratio of 42.92, a PEG ratio of 2.53 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $342.63 and its 200-day moving average is $333.34. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $470.00.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus set a $486.00 price objective on shares of Sterling Infrastructure and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald started coverage on shares of Sterling Infrastructure in a research report on Friday, January 23rd. They issued an “overweight” rating and a $413.00 target price for the company. Weiss Ratings upgraded shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, DA Davidson boosted 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. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $453.00.

About Sterling Infrastructure

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.