Penn Capital Management Company LLC Makes New $947,000 Investment in Sterling Infrastructure, Inc. $STRL

Penn Capital Management Company LLC purchased a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,906 shares of the construction company’s stock, valued at approximately $947,000.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Sterling Infrastructure by 290.7% during the second quarter. State Street Corp now owns 4,253,073 shares of the construction company’s stock valued at $3,569,859,000 after buying an additional 3,164,551 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at about $2,713,946,000. Jupiter Topco LLC bought a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at about $395,056,000. First Trust Advisors LP boosted its holdings in Sterling Infrastructure by 27.3% during the 1st quarter. First Trust Advisors LP now owns 877,990 shares of the construction company’s stock valued at $357,579,000 after acquiring an additional 188,048 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Sterling Infrastructure by 7.5% during the 1st quarter. Janus Henderson Group PLC now owns 619,145 shares of the construction company’s stock valued at $252,207,000 after acquiring an additional 43,259 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock opened at $289.56 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $444.80 and a 200-day moving average of $548.09. The firm has a market cap of $8.83 billion, a P/E ratio of 15.00, a P/E/G ratio of 0.54 and a beta of 1.97. Sterling Infrastructure, Inc. has a 1-year low of $239.35 and a 1-year high of $1,005.68.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.20 by $1.38. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.19 billion. Sterling Infrastructure had a return on equity of 45.97% and a net margin of 12.85%. The business’s quarterly revenue was up 127.0% on a year-over-year basis. Sell-side analysts expect that Sterling Infrastructure, Inc. will post 20.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on STRL shares. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. KeyCorp boosted their price objective on Sterling Infrastructure from $754.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. began coverage on Sterling Infrastructure in a research note on Tuesday. They set an “overweight” rating and a $585.00 price objective for the company. DA Davidson cut their target price on shares of Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Finally, Weiss Ratings downgraded shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sterling Infrastructure has an average rating of “Moderate Buy” and an average price target of $709.14.

About Sterling Infrastructure

Sterling Infrastructure, Inc. (NASDAQ: STRL) is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments. E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.