Forvis Mazars Wealth Advisors LLC Sells 4,492 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Forvis Mazars Wealth Advisors LLC has reduced its holdings in Sterling Infrastructure, Inc. by 26.7% after selling 4,492 shares in the 2nd quarter, leaving them with a total of 12,316 shares valued at approximately $2.84 million.
• Sterling Infrastructure reported a net margin of 13.33% and earnings per share (EPS) of $0.64 for the last quarter, forecasting an EPS of 5.98 for the current fiscal year.
• Analysts have upgraded Sterling Infrastructure's stock with a consensus rating of "Buy" and an average target price increase to $355.00 due to positive market performance.

Forvis Mazars Wealth Advisors LLC decreased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 26.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,316 shares of the construction company's stock after selling 4,492 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in Sterling Infrastructure were worth $2,842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in Sterling Infrastructure during the 2nd quarter worth approximately $29,000. Armstrong Advisory Group Inc. lifted its stake in Sterling Infrastructure by 93.2% in the second quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company's stock valued at $39,000 after buying an additional 82 shares in the last quarter. MCF Advisors LLC lifted its stake in Sterling Infrastructure by 97.7% in the second quarter. MCF Advisors LLC now owns 172 shares of the construction company's stock valued at $40,000 after buying an additional 85 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Sterling Infrastructure by 32.9% in the second quarter. Richardson Financial Services Inc. now owns 190 shares of the construction company's stock valued at $42,000 after buying an additional 47 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after buying an additional 200 shares in the last quarter. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Price Performance

NASDAQ STRL opened at $355.58 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $376.75. The company has a market capitalization of $10.82 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 2.63 and a beta of 1.38. The firm's 50 day moving average is $318.02 and its 200-day moving average is $241.67.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share (EPS) for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. The company had revenue of $403.58 million for the quarter. Equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

STRL has been the topic of a number of research reports. DA Davidson lifted their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 26th. Zacks Research raised shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, Sterling Infrastructure currently has a consensus rating of "Buy" and an average target price of $355.00.

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.

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