Aware Super Pty Ltd as trustee of Aware Super Buys 6,086 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Aware Super initiated a Sterling Infrastructure position in the third quarter, buying 6,086 shares valued at approximately $2.99 million.
• Sterling reported quarterly EPS of $7.58, beating the $6.20 consensus estimate, while revenue rose 127% year over year to $1.56 billion.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $729.83; six analysts rate the stock Buy and two rate it Hold.

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,086 shares of the construction company's stock, valued at approximately $2,993,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Engle Capital Management L.P. increased its position in Sterling Infrastructure by 156.5% during the 1st quarter. Engle Capital Management L.P. now owns 26,500 shares of the construction company's stock worth $10,793,000 after purchasing an additional 16,167 shares in the last quarter. Jupiter Topco LLC acquired a new position in Sterling Infrastructure in the 2nd quarter valued at about $395,056,000. Equitable Holdings Inc. purchased a new position in Sterling Infrastructure in the 2nd quarter valued at about $5,012,000. The Manufacturers Life Insurance Company lifted its holdings in Sterling Infrastructure by 191.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,448 shares of the construction company's stock valued at $81,794,000 after purchasing an additional 63,994 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Sterling Infrastructure during the 2nd quarter worth about $18,337,000. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Stock Up 7.7%

STRL opened at $361.14 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.63 and a beta of 1.97. The business has a 50-day moving average of $466.20 and a two-hundred day moving average of $550.10. 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 announced its quarterly earnings data on Wednesday, October 28th. The construction company reported $7.58 earnings per share for the quarter, topping the consensus estimate of $6.20 by $1.38. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.19 billion. Sterling Infrastructure's revenue was up 127.0% on a year-over-year basis. On average, research analysts expect that Sterling Infrastructure, Inc. will post 20.91 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 5th. DA Davidson reduced their price objective on shares of Sterling Infrastructure from $700.00 to $680.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. KeyCorp upped their price objective on shares of Sterling Infrastructure from $754.00 to $755.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Zacks Research lowered shares of Sterling Infrastructure from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Finally, Weiss Ratings cut shares of Sterling Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, September 9th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sterling Infrastructure has an average rating of "Moderate Buy" and a consensus target price 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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