Cibc World Market Inc. Has $15.36 Million Position in Sterling Infrastructure, Inc. $STRL

Key Points

• Cibc World Market Inc. boosted its stake in Sterling Infrastructure by 10.8% in the fourth quarter, owning 50,157 shares worth about $15.36 million.
• Institutional ownership remains high, with several other funds also increasing holdings and about 80.95% of the stock now held by institutional investors and hedge funds.
• CEO Joseph A. Cutillo sold 50,000 shares in a pre-arranged Rule 10b5-1 transaction for about $24.9 million, reducing his position by 14.68%.

Cibc World Market Inc. increased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,157 shares of the construction company's stock after purchasing an additional 4,896 shares during the period. Cibc World Market Inc. owned approximately 0.16% of Sterling Infrastructure worth $15,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in Sterling Infrastructure by 62.0% during the 2nd quarter. State Street Corp now owns 1,131,751 shares of the construction company's stock worth $261,129,000 after purchasing an additional 433,311 shares during the last quarter. Invesco Ltd. lifted its holdings in Sterling Infrastructure by 29.8% during the 3rd quarter. Invesco Ltd. now owns 955,387 shares of the construction company's stock worth $324,526,000 after purchasing an additional 219,477 shares during the last quarter. American Century Companies Inc. lifted its holdings in Sterling Infrastructure by 84.6% during the 3rd quarter. American Century Companies Inc. now owns 654,096 shares of the construction company's stock worth $222,184,000 after purchasing an additional 299,724 shares during the last quarter. First Trust Advisors LP lifted its holdings in Sterling Infrastructure by 83.5% during the 3rd quarter. First Trust Advisors LP now owns 606,236 shares of the construction company's stock worth $205,926,000 after purchasing an additional 275,830 shares during the last quarter. Finally, UBS Group AG lifted its holdings in Sterling Infrastructure by 45.4% during the 3rd quarter. UBS Group AG now owns 483,864 shares of the construction company's stock worth $164,359,000 after purchasing an additional 151,146 shares during the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Joseph A. Cutillo sold 50,000 shares of Sterling Infrastructure stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $497.57, for a total value of $24,878,500.00. Following the transaction, the chief executive officer owned 290,593 shares in the company, valued at approximately $144,590,359.01. This trade represents a 14.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.60% of the company's stock.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $882.43 on Friday. The stock's fifty day moving average price is $631.38 and its two-hundred day moving average price is $458.18. Sterling Infrastructure, Inc. has a one year low of $191.00 and a one year high of $1,005.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $27.08 billion, a PE ratio of 78.93, a price-to-earnings-growth ratio of 3.68 and a beta of 1.82.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $1.30. Sterling Infrastructure had a return on equity of 35.64% and a net margin of 12.02%.The company had revenue of $825.68 million for the quarter, compared to analyst estimates of $603.58 million. During the same quarter last year, the company posted $1.63 EPS. Sterling Infrastructure has set its FY 2026 guidance at 18.400-19.050 EPS. As a group, research analysts expect that Sterling Infrastructure, Inc. will post 18.03 EPS for the current fiscal year.

Analysts Set New Price Targets

STRL has been the subject of several research reports. Wall Street Zen cut Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 31st. Weiss Ratings cut Sterling Infrastructure from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 14th. Stifel Nicolaus set a $486.00 price target on Sterling Infrastructure and gave the stock a "buy" rating in a report on Wednesday, February 11th. DA Davidson lifted their price target on Sterling Infrastructure from $460.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Finally, KeyCorp raised their price objective on Sterling Infrastructure from $889.00 to $922.00 and gave the stock an "overweight" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $720.67.

Sterling Infrastructure Company Profile

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.

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