Loomis Sayles & Co. L P Has $81.66 Million Holdings in Sterling Infrastructure, Inc. $STRL

Loomis Sayles & Co. L P trimmed its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 353,930 shares of the construction company’s stock after selling 8,556 shares during the period. Loomis Sayles & Co. L P’s holdings in Sterling Infrastructure were worth $81,662,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in Sterling Infrastructure during the 2nd quarter worth approximately $29,000. Bessemer Group Inc. lifted its holdings 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 acquiring an additional 68 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Sterling Infrastructure by 54.8% in the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of Sterling Infrastructure by 93.2% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company’s stock valued at $39,000 after purchasing an additional 82 shares during the last quarter. Finally, MCF Advisors LLC increased its position in Sterling Infrastructure by 97.7% during the 2nd quarter. MCF Advisors LLC now owns 172 shares of the construction company’s stock worth $40,000 after purchasing an additional 85 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

STRL has been the topic of a number of research reports. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. DA Davidson lifted their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $460.00.

Sterling Infrastructure Stock Up 1.3%

STRL stock opened at $344.34 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $419.14. The stock’s 50 day simple moving average is $357.06 and its 200 day simple moving average is $285.80. The company has a market cap of $10.58 billion, a P/E ratio of 37.43, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%.The company had revenue of $403.58 million for the quarter. On average, research analysts expect that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure declared that its Board of Directors has authorized a stock buyback plan on Wednesday, November 12th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows 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 board believes its shares are undervalued.

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.