Louisiana State Employees Retirement System Takes Position in Sterling Infrastructure, Inc. $STRL

Key Points

• The Louisiana State Employees Retirement System has acquired a new stake of 14,200 shares in Sterling Infrastructure, Inc. worth approximately $3.3 million in the second quarter.
• Several hedge funds are increasing their positions in Sterling Infrastructure, with a total of 80.95% of the stock owned by institutional investors.
• Sterling Infrastructure has received positive ratings from analysts, with a consensus target price of $355.00 and multiple firms rating it as a "buy."

Louisiana State Employees Retirement System purchased a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 14,200 shares of the construction company's stock, valued at approximately $3,276,000.

Other hedge funds have also recently made changes to their positions in the company. CWC Advisors LLC. grew its position in Sterling Infrastructure by 2.4% in the second quarter. CWC Advisors LLC. now owns 1,858 shares of the construction company's stock worth $429,000 after acquiring an additional 43 shares in the last quarter. Assetmark Inc. grew its position in Sterling Infrastructure by 5.4% in the first quarter. Assetmark Inc. now owns 1,372 shares of the construction company's stock worth $155,000 after acquiring an additional 70 shares in the last quarter. Signaturefd LLC grew its position in Sterling Infrastructure by 21.7% in the second quarter. Signaturefd LLC now owns 392 shares of the construction company's stock worth $90,000 after acquiring an additional 70 shares in the last quarter. Armstrong Advisory Group Inc. grew its position in Sterling Infrastructure by 93.2% in the second quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company's stock worth $39,000 after acquiring an additional 82 shares in the last quarter. Finally, MCF Advisors LLC grew its position in Sterling Infrastructure by 97.7% in the second quarter. MCF Advisors LLC now owns 172 shares of the construction company's stock worth $40,000 after acquiring an additional 85 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on STRL shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Sterling Infrastructure in a research report on Wednesday. DA Davidson upped their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 26th. Finally, Zacks Research raised shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $355.00.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL opened at $355.53 on Friday. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38. The company has a 50-day moving average price of $309.98 and a 200-day moving average price of $230.14. The company has a current ratio of 1.42, a quick 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.

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

Sterling Infrastructure Profile

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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