Oppenheimer Asset Management Inc. Makes New $6.24 Million Investment in Sterling Infrastructure, Inc. $STRL

Key Points

• Oppenheimer Asset Management acquired 7,432 shares of Sterling Infrastructure worth approximately $6.24 million, while other institutional investors also increased or initiated positions. Institutions collectively own 80.95% of the company.
• Analysts maintain a favorable outlook, with seven Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $657, despite recent target reductions.
• Sterling Infrastructure reported quarterly EPS of $5.80 versus the $5.01 estimate and revenue of $1.17 billion, up 90.4% year over year. Shares opened at $576.48, well below their 12-month high of $1,005.68.

Oppenheimer Asset Management Inc. bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,432 shares of the construction company's stock, valued at approximately $6,238,000.

Several other large investors have also modified their holdings of the stock. Empowered Funds LLC acquired a new position in Sterling Infrastructure in the 1st quarter valued at $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Sterling Infrastructure by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 83,983 shares of the construction company's stock worth $9,508,000 after buying an additional 9,625 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Sterling Infrastructure by 13.7% in the 1st quarter. Focus Partners Wealth now owns 2,313 shares of the construction company's stock worth $262,000 after acquiring an additional 279 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Sterling Infrastructure in the 2nd quarter worth $5,929,000. Finally, Cerity Partners LLC boosted its holdings in shares of Sterling Infrastructure by 195.7% in the second quarter. Cerity Partners LLC now owns 19,522 shares of the construction company's stock valued at $4,504,000 after acquiring an additional 12,921 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on STRL shares. Oppenheimer started coverage on shares of Sterling Infrastructure in a research note on Thursday, May 28th. They set an "outperform" rating and a $950.00 price target on the stock. Weiss Ratings lowered Sterling Infrastructure from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. KeyCorp dropped their target price on Sterling Infrastructure from $922.00 to $754.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 5th. Wall Street Zen downgraded Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, Cantor Fitzgerald cut their target price on Sterling Infrastructure from $956.00 to $742.00 and set an "overweight" rating for the company in a research note on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Sterling Infrastructure currently has a consensus rating of "Moderate Buy" and an average price target of $657.00.

Insiders Place Their Bets

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 2,500 shares of the company's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $888.00, for a total value of $2,220,000.00. Following the sale, the general counsel owned 28,137 shares of the company's stock, valued at approximately $24,985,656. This represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company's stock.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $576.48 on Friday. The business's 50 day simple moving average is $704.54 and its 200-day simple moving average is $591.04. The firm has a market capitalization of $17.63 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.11 and a quick ratio of 1.11. Sterling Infrastructure, Inc. has a 12 month low of $263.45 and a 12 month high of $1,005.68.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The construction company reported $5.80 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.79. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $969.22 million. Sterling Infrastructure had a return on equity of 40.12% and a net margin of 12.55%.The firm's revenue was up 90.4% compared to the same quarter last year. Sterling Infrastructure has set its FY 2026 guidance at 19.700-20.300 EPS. As a group, equities analysts forecast that Sterling Infrastructure, Inc. will post 19.11 earnings per share for the current fiscal year.

About Sterling Infrastructure

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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