MAI Capital Management Acquires New Stake in Sterling Infrastructure, Inc. $STRL

MAI Capital Management acquired a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 232 shares of the construction company’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STRL. Millennium Management LLC boosted its stake in shares of Sterling Infrastructure by 743.9% during the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock worth $55,857,000 after purchasing an additional 434,925 shares during the last quarter. Amanah Holdings Trust purchased a new position in shares of Sterling Infrastructure during the second quarter valued at approximately $44,527,000. Nuveen LLC purchased a new position in shares of Sterling Infrastructure during the first quarter valued at approximately $19,741,000. Vanguard Group Inc. boosted its position in Sterling Infrastructure by 6.3% during the first quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company’s stock worth $303,742,000 after acquiring an additional 159,191 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new stake in Sterling Infrastructure in the 1st quarter worth approximately $12,885,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on STRL shares. Wall Street Zen lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, 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 research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Sterling Infrastructure has an average rating of “Moderate Buy” and a consensus price target of $460.00.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock opened at $344.34 on Friday. The business’s fifty day moving average price is $357.06 and its 200 day moving average price is $286.49. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $419.14. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $10.58 billion, a P/E ratio of 37.43, a PEG ratio of 2.98 and a beta of 1.39.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. The company had revenue of $403.58 million for the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%. As a group, research analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Sterling Infrastructure declared that its Board of Directors has authorized a share repurchase 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Sterling Infrastructure

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.