Norges Bank Purchases New Stake in Sterling Infrastructure, Inc. $STRL

Key Points

• Norges Bank bought a new stake in Sterling Infrastructure during the fourth quarter, acquiring 62,298 shares valued at about $19.1 million. The position represented 0.20% of the company at the end of the reporting period.
• Institutional ownership remains high, with investors holding 80.95% of Sterling Infrastructure’s stock. Several other funds also increased their positions in the company in recent quarters.
• Analyst sentiment is broadly positive: the stock has a Buy consensus rating and an average price target of $720.67, while recent earnings beat estimates with revenue and EPS both topping expectations.

Norges Bank acquired a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 62,298 shares of the construction company's stock, valued at approximately $19,078,000. Norges Bank owned 0.20% of Sterling Infrastructure at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Sterling Infrastructure by 33.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 107 shares of the construction company's stock worth $33,000 after buying an additional 27 shares during the period. CENTRAL TRUST Co increased its position in Sterling Infrastructure by 7.9% during the 4th quarter. CENTRAL TRUST Co now owns 397 shares of the construction company's stock worth $122,000 after buying an additional 29 shares during the period. Fifth Third Bancorp increased its position in Sterling Infrastructure by 76.1% during the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company's stock worth $28,000 after buying an additional 35 shares during the period. Ballentine Partners LLC increased its position in Sterling Infrastructure by 6.9% during the 4th quarter. Ballentine Partners LLC now owns 686 shares of the construction company's stock worth $210,000 after buying an additional 44 shares during the period. Finally, World Investment Advisors increased its position in Sterling Infrastructure by 5.5% during the 4th quarter. World Investment Advisors now owns 850 shares of the construction company's stock worth $260,000 after buying an additional 44 shares during the period. Institutional investors own 80.95% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on STRL. DA Davidson increased their price objective on Sterling Infrastructure from $460.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Wall Street Zen cut Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 31st. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 1st. KeyCorp increased their price objective on Sterling Infrastructure from $889.00 to $922.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 2nd. Finally, Stifel Nicolaus set a $486.00 price objective on Sterling Infrastructure and gave the stock a "buy" rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $720.67.

Sterling Infrastructure Stock Performance

STRL opened at $842.01 on Wednesday. The firm has a market cap of $25.84 billion, a P/E ratio of 75.31, a price-to-earnings-growth ratio of 3.30 and a beta of 1.82. Sterling Infrastructure, Inc. has a 52-week low of $191.00 and a 52-week high of $1,005.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.10. The business's fifty day moving average is $649.34 and its 200-day moving average is $466.57.

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

Insiders Place Their Bets

In related news, CEO Joseph A. Cutillo sold 50,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 290,593 shares of the company's stock, valued at $144,590,359.01. This trade represents a 14.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.60% of the stock is owned by company insiders.

Sterling Infrastructure 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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