Bank of America Corp DE Sells 6,469 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Bank of America reduced its Sterling Infrastructure stake by 4.9%, selling 6,469 shares and retaining 125,381 shares valued at approximately $51.1 million. Institutional investors collectively own 80.95% of the company.
• Analyst sentiment remains broadly positive, with seven Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and a $657 price target. However, Zacks downgraded the stock to Hold, while KeyCorp cut its target to $754.
• Sterling Infrastructure reported strong quarterly results, with EPS of $5.80 versus the $5.01 estimate and revenue of $1.17 billion, up 90.4% year over year. Shares opened at $532.76, well below their 52-week high of $1,005.68.

Bank of America Corp DE reduced its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,381 shares of the construction company's stock after selling 6,469 shares during the quarter. Bank of America Corp DE owned 0.41% of Sterling Infrastructure worth $51,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cedar Mountain Advisors LLC lifted its stake in Sterling Infrastructure by 8,000.0% during the first quarter. Cedar Mountain Advisors LLC now owns 81 shares of the construction company's stock worth $33,000 after purchasing an additional 80 shares during the last quarter. NFSG Corp increased its position in shares of Sterling Infrastructure by 578.6% during the 1st quarter. NFSG Corp now owns 95 shares of the construction company's stock valued at $39,000 after purchasing an additional 81 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Sterling Infrastructure during the 4th quarter valued at about $31,000. Signature Equity Partners LLC raised its holdings in shares of Sterling Infrastructure by 19.5% during the 1st quarter. Signature Equity Partners LLC now owns 104 shares of the construction company's stock valued at $42,000 after buying an additional 17 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Sterling Infrastructure by 316.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 104 shares of the construction company's stock worth $35,000 after buying an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insider Activity

In related news, General Counsel Mark D. Wolf sold 2,500 shares of the business's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $888.00, for a total transaction of $2,220,000.00. Following the transaction, the general counsel owned 28,137 shares in the company, valued at $24,985,656. The trade was a 8.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research downgraded Sterling Infrastructure from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Argus initiated coverage on Sterling Infrastructure in a research note on Thursday, April 16th. They issued a "buy" rating and a $510.00 price target on the stock. Oppenheimer began coverage on Sterling Infrastructure in a research note on Thursday, May 28th. They set an "outperform" rating and a $950.00 price objective for the company. Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, KeyCorp decreased their target price on shares of Sterling Infrastructure from $922.00 to $754.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $657.00.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock opened at $532.76 on Wednesday. The business has a 50 day moving average of $727.63 and a 200 day moving average of $588.42. Sterling Infrastructure, Inc. has a 52 week low of $263.45 and a 52 week high of $1,005.68. The company has a market cap of $16.30 billion, a PE ratio of 38.41, a P/E/G ratio of 1.84 and a beta of 1.88. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.19.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.01 by $0.79. Sterling Infrastructure had a net margin of 12.55% and a return on equity of 40.12%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $969.22 million. The firm's revenue was up 90.4% on a year-over-year basis. Sterling Infrastructure has set its FY 2026 guidance at 19.700-20.300 EPS. As a group, equities research analysts forecast that Sterling Infrastructure, Inc. will post 19.13 earnings per share for the current year.

About Sterling Infrastructure

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source