Maryland State Retirement & Pension System Invests $2.06 Million in Sterling Infrastructure, Inc. $STRL

Key Points

• The Maryland State Retirement & Pension System invested approximately $2.06 million in Sterling Infrastructure, acquiring 8,938 shares during the 2nd quarter.
• Despite the investment, Sterling Infrastructure's stock is currently down 5.3% and has a market capitalization of $10.24 billion.
• Analysts have mixed ratings for Sterling Infrastructure, with Zacks Research upgrading the stock to a "strong-buy" while others have rated it as a "buy" with a consensus price target of $355.00.

Maryland State Retirement & Pension System purchased a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,938 shares of the construction company's stock, valued at approximately $2,062,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of STRL. Sunbelt Securities Inc. raised its holdings in shares of Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after buying an additional 200 shares during the period. Opal Wealth Advisors LLC bought a new position in Sterling Infrastructure in the first quarter worth approximately $28,000. Ameritas Advisory Services LLC bought a new position in Sterling Infrastructure in the second quarter worth approximately $29,000. Armstrong Advisory Group Inc. grew 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 worth $39,000 after purchasing an additional 82 shares in the last quarter. Finally, MCF Advisors LLC grew 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 worth $40,000 after purchasing an additional 85 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Down 5.3%

Sterling Infrastructure stock opened at $336.63 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 2.63 and a beta of 1.38. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $376.75. The business has a fifty day moving average price of $311.45 and a 200-day moving average price of $231.56.

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 for the quarter. The firm had revenue of $403.58 million during the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%. Equities research analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Analyst Ratings Changes

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

Sterling Infrastructure Company 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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