New York State Teachers Retirement System Acquires 14,909 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• The New York State Teachers Retirement System significantly increased its stake in Sterling Infrastructure, Inc. by 549.9% during the second quarter, acquiring a total of 14,909 shares.
• Multiple institutional investors have also enhanced their holdings in Sterling, with Millennium Management LLC increasing its stake by 743.9%, showcasing growing institutional interest in the company.
• Sterling Infrastructure reported a quarterly revenue of $403.58 million and an EPS of $0.64, and analysts forecast an average price target of $355.00 for the stock.

New York State Teachers Retirement System increased its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 549.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,620 shares of the construction company's stock after acquiring an additional 14,909 shares during the period. New York State Teachers Retirement System owned about 0.06% of Sterling Infrastructure worth $4,065,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC lifted its stake in Sterling Infrastructure by 743.9% in the first quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock valued at $55,857,000 after purchasing an additional 434,925 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Sterling Infrastructure in the first quarter valued at approximately $28,689,000. Amanah Holdings Trust purchased a new position in Sterling Infrastructure in the second quarter valued at approximately $44,527,000. Nuveen LLC purchased a new position in Sterling Infrastructure in the first quarter valued at approximately $19,741,000. Finally, Vanguard Group Inc. lifted its stake in Sterling Infrastructure by 6.3% in the first quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock valued at $303,742,000 after purchasing an additional 159,191 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $369.01 on Tuesday. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $376.75. The business has a fifty day moving average price of $319.61 and a 200-day moving average price of $243.52. 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 firm has a market capitalization of $11.23 billion, a P/E ratio of 40.11, a PEG ratio of 2.63 and a beta of 1.38.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on STRL shares. DA Davidson upped their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Wall Street Zen downgraded Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 26th. Finally, Weiss Ratings reiterated 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 assigned a Buy rating to the company. Based on data from MarketBeat, Sterling Infrastructure presently has an average rating of "Buy" and an average price target 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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