State of New Jersey Common Pension Fund D Has $2.51 Million Stock Holdings in Sterling Infrastructure, Inc. $STRL

State of New Jersey Common Pension Fund D decreased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 38.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,886 shares of the construction company’s stock after selling 6,919 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sterling Infrastructure were worth $2,512,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of STRL. Wealth Enhancement Advisory Services LLC raised its holdings in Sterling Infrastructure by 38.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company’s stock worth $544,000 after buying an additional 1,337 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Sterling Infrastructure during the first quarter worth $370,000. Sunbelt Securities Inc. raised its holdings in Sterling Infrastructure by 689.7% during the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Hudson Edge Investment Partners Inc. acquired a new position in Sterling Infrastructure during the first quarter worth $823,000. Finally, D.A. Davidson & CO. raised its holdings in Sterling Infrastructure by 5.0% during the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company’s stock worth $274,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

STRL opened at $379.89 on Wednesday. The firm has a market cap of $11.56 billion, a P/E ratio of 41.29, a PEG ratio of 2.79 and a beta of 1.38. The firm has a 50-day moving average of $328.99 and a 200 day moving average of $253.65. 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 $391.72.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on STRL shares. Zacks Research upgraded shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. DA Davidson increased their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, Sterling Infrastructure presently has a consensus rating of “Buy” and an average price target of $355.00.

Sterling Infrastructure 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.