Verus Capital Partners LLC Cuts Stock Position in Sterling Infrastructure, Inc. $STRL

Verus Capital Partners LLC trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 24.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,430 shares of the construction company’s stock after selling 2,460 shares during the quarter. Verus Capital Partners LLC’s holdings in Sterling Infrastructure were worth $2,524,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new position in Sterling Infrastructure in the second quarter worth $26,000. Root Financial Partners LLC acquired a new stake in shares of Sterling Infrastructure in the 3rd quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new position in Sterling Infrastructure during the 3rd quarter worth $28,000. Fifth Third Bancorp increased its position in Sterling Infrastructure by 76.1% during the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock valued at $28,000 after buying an additional 35 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake 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 buying an additional 68 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Price Performance

Shares of STRL opened at $435.50 on Monday. The business’s 50-day moving average is $352.32 and its two-hundred day moving average is $339.40. The company has a market capitalization of $13.38 billion, a P/E ratio of 42.70, a P/E/G ratio of 2.50 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. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00.

Sterling Infrastructure announced that its board has approved a share buyback plan on Wednesday, November 12th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other 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 transaction, the director directly owned 14,749 shares of the company’s stock, valued at $5,162,150. The trade was a 16.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 sale, the director directly owned 11,498 shares in the company, valued at $4,714,180. This trade represents a 14.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,860 shares of company stock worth $2,611,000. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports 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 report on Wednesday, November 5th. 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. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Stifel Nicolaus set a $486.00 price objective on shares of Sterling Infrastructure and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Cantor Fitzgerald began coverage on Sterling Infrastructure in a research report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price target for the company. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $453.00.

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.