Sterling Infrastructure, Inc. $STRL Stake Cut by Voya Investment Management LLC

Voya Investment Management LLC decreased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,522 shares of the construction company’s stock after selling 3,463 shares during the period. Voya Investment Management LLC’s holdings in Sterling Infrastructure were worth $5,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of STRL. Millennium Management LLC lifted its position in shares of Sterling Infrastructure by 743.9% in the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock worth $55,857,000 after buying an additional 434,925 shares during the last quarter. State Street Corp raised its stake in Sterling Infrastructure by 62.0% during the second quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock worth $261,129,000 after acquiring an additional 433,311 shares during the period. Invesco Ltd. raised its stake in Sterling Infrastructure by 82.7% during the second quarter. Invesco Ltd. now owns 735,910 shares of the construction company’s stock worth $169,797,000 after acquiring an additional 333,013 shares during the period. Amanah Holdings Trust bought a new position in Sterling Infrastructure in the second quarter worth about $44,527,000. Finally, Frontier Capital Management Co. LLC acquired a new position in Sterling Infrastructure in the second quarter valued at approximately $35,931,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Down 0.6%

Shares of Sterling Infrastructure stock opened at $313.92 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $419.14. The business’s fifty day moving average price is $344.41 and its two-hundred day moving average price is $302.94. The company has a market capitalization of $9.64 billion, a P/E ratio of 30.78, a PEG ratio of 2.13 and a beta of 1.49.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%.The company had revenue of $403.58 million for the quarter. As a group, research analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure announced that its Board of Directors has authorized a share repurchase program on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in 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 generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Zacks Research upgraded Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. DA Davidson increased their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Sterling Infrastructure in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, Sterling Infrastructure currently has an average rating of “Buy” and a consensus price target of $460.00.

Sterling Infrastructure Company 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.