38,278 Shares in Sterling Infrastructure, Inc. $STRL Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a new position in Sterling Infrastructure, buying 38,278 shares worth about $18.8 million, or roughly 0.13% of the company.
• Sterling reported quarterly EPS of $7.58, beating the $6.20 consensus, while revenue of $1.56 billion exceeded estimates and rose 127% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $729.83; the stock opened at $361.14 in the trading session cited.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,278 shares of the construction company's stock, valued at approximately $18,824,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.13% of Sterling Infrastructure as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC acquired a new stake in shares of Sterling Infrastructure during the 2nd quarter valued at $29,000. Persistent Asset Partners Ltd bought a new stake in shares of Sterling Infrastructure during the 2nd quarter worth $40,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Sterling Infrastructure by 100.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 60 shares of the construction company's stock worth $50,000 after acquiring an additional 30 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Sterling Infrastructure by 35.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 76 shares of the construction company's stock worth $59,000 after acquiring an additional 20 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sterling Infrastructure by 43.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 79 shares of the construction company's stock worth $66,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock opened at $361.14 on Wednesday. The stock has a market cap of $11.01 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 0.63 and a beta of 1.97. The business has a fifty day simple moving average of $466.20 and a 200-day simple moving average of $550.10. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. Sterling Infrastructure, Inc. has a 12 month low of $281.58 and a 12 month high of $1,005.68.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share for the quarter, beating analysts' consensus estimates of $6.20 by $1.38. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.19 billion. Sterling Infrastructure had a return on equity of 45.97% and a net margin of 12.85%. The company's quarterly revenue was up 127.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 20.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus cut their target price on Sterling Infrastructure from $804.00 to $742.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $742.00 price target on shares of Sterling Infrastructure in a research report on Thursday, October 29th. Wall Street Zen cut Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. Weiss Ratings downgraded Sterling Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 9th. Finally, Zacks Research lowered shares of Sterling Infrastructure from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $729.83.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc is a U.S.-based infrastructure services company that provides construction and specialty contracting solutions through three principal business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.

Its E-Infrastructure Solutions segment supports the development of data centers, advanced manufacturing facilities, energy and power infrastructure, and other large-scale industrial projects. Transportation Solutions provides construction and rehabilitation services for highways, roads, bridges, airports, rail and transit systems, and related public infrastructure.

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