Illinois Municipal Retirement Fund Buys New Stake in Sterling Infrastructure, Inc. $STRL

Illinois Municipal Retirement Fund purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 15,195 shares of the construction company’s stock, valued at approximately $3,506,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in shares of Sterling Infrastructure by 30.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company’s stock valued at $8,882,000 after buying an additional 18,254 shares during the period. Alps Advisors Inc. increased its stake in Sterling Infrastructure by 6.8% during the 1st quarter. Alps Advisors Inc. now owns 2,985 shares of the construction company’s stock worth $338,000 after buying an additional 190 shares during the period. Cerity Partners LLC increased its stake in Sterling Infrastructure by 40.9% during the 1st quarter. Cerity Partners LLC now owns 6,601 shares of the construction company’s stock worth $747,000 after buying an additional 1,916 shares during the period. Xponance Inc. lifted its holdings in Sterling Infrastructure by 6.0% in the 1st quarter. Xponance Inc. now owns 2,272 shares of the construction company’s stock worth $257,000 after buying an additional 128 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in Sterling Infrastructure by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 50,936 shares of the construction company’s stock valued at $5,766,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Down 0.1%

STRL stock opened at $380.70 on Thursday. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 2.98 and a beta of 1.39. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $419.14. The firm has a fifty day moving average price of $352.18 and a two-hundred day moving average price of $272.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42.

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. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. The business had revenue of $403.58 million during the quarter. Research analysts predict that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure announced that its Board of Directors has authorized a stock buyback program on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

STRL has been the subject of a number of recent analyst reports. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. Finally, DA Davidson upped their target price 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. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $460.00.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.