Thrivent Financial for Lutherans Has $15.49 Million Stock Holdings in Sterling Infrastructure, Inc. $STRL

Thrivent Financial for Lutherans trimmed its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,113 shares of the construction company’s stock after selling 8,252 shares during the period. Thrivent Financial for Lutherans owned about 0.22% of Sterling Infrastructure worth $15,485,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of STRL. Deutsche Bank AG lifted its stake in Sterling Infrastructure by 2.5% during the first quarter. Deutsche Bank AG now owns 32,329 shares of the construction company’s stock valued at $3,660,000 after buying an additional 798 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Sterling Infrastructure during the first quarter valued at approximately $19,741,000. Raymond James Financial Inc. lifted its position in shares of Sterling Infrastructure by 12.1% in the 1st quarter. Raymond James Financial Inc. now owns 111,254 shares of the construction company’s stock valued at $12,595,000 after acquiring an additional 12,046 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Sterling Infrastructure by 895.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,894 shares of the construction company’s stock worth $3,611,000 after purchasing an additional 28,691 shares during the period. Finally, JT Stratford LLC grew its position in Sterling Infrastructure by 26.3% during the 1st quarter. JT Stratford LLC now owns 15,740 shares of the construction company’s stock worth $1,782,000 after purchasing an additional 3,275 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports 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. DA Davidson upped their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $460.00.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $319.13 on Wednesday. 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 one year low of $96.34 and a one year high of $419.14. The business’s 50-day moving average price is $351.43 and its two-hundred day moving average price is $298.95. The company has a market capitalization of $9.80 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 2.16 and a beta of 1.49.

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 return on equity of 29.81% and a net margin of 14.14%. Analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure announced that its board has approved a stock buyback program on Wednesday, November 12th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the construction company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign 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.