State of Michigan Retirement System Purchases Shares of 7,300 Sterling Infrastructure, Inc. $STRL

Key Points

• State of Michigan Retirement System opened a new position of 7,300 shares in Sterling Infrastructure (~$2.24M), and institutional investors now own about 80.95% of the company with several funds recently increasing stakes.
• Analysts are broadly bullish on STRL with a consensus "Buy" rating and an average target of $510, as multiple firms have raised price targets (KeyCorp $572, DA Davidson $500, Cantor Fitzgerald $482).
• Significant insider selling occurred last quarter—insiders sold a total of 104,000 shares (~$49.16M), including CEO Joseph Cutillo's 50,000-share sale (~$24.88M) under a Rule 10b5-1 plan, leaving insiders with 1.6% ownership.

State of Michigan Retirement System bought 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 Form 13F filing with the SEC. The firm bought 7,300 shares of the construction company's stock, valued at approximately $2,235,000.

Several other institutional investors have also recently added to or reduced their stakes in STRL. Telligent Fund LP purchased a new stake in Sterling Infrastructure in the third quarter valued at approximately $1,019,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Sterling Infrastructure by 76.4% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,393 shares of the construction company's stock worth $3,530,000 after acquiring an additional 4,500 shares during the last quarter. Emerald Advisers LLC increased its holdings in shares of Sterling Infrastructure by 50.3% in the 3rd quarter. Emerald Advisers LLC now owns 82,582 shares of the construction company's stock valued at $28,051,000 after acquiring an additional 27,627 shares during the period. Allworth Financial LP raised its position in Sterling Infrastructure by 1,307.9% in the 3rd quarter. Allworth Financial LP now owns 7,631 shares of the construction company's stock valued at $2,592,000 after purchasing an additional 7,089 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Sterling Infrastructure by 6,893.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,287 shares of the construction company's stock worth $1,007,000 after purchasing an additional 3,240 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Wall Street Analysts Forecast Growth

STRL has been the topic of several research reports. Cantor Fitzgerald raised their price objective on shares of Sterling Infrastructure from $413.00 to $482.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. Stifel Nicolaus set a $486.00 target price on shares of Sterling Infrastructure and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Wall Street Zen cut Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 28th. DA Davidson upped their price objective on Sterling Infrastructure from $460.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Finally, KeyCorp initiated coverage on Sterling Infrastructure in a research report on Thursday, April 23rd. They set an "overweight" rating and a $572.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $510.00.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O'brien sold 2,000 shares of the business's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $410.00, for a total transaction of $820,000.00. Following the transaction, the director owned 11,498 shares in the company, valued at approximately $4,714,180. The trade was a 14.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph A. Cutillo sold 50,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly owned 290,593 shares in the company, valued at $144,590,359.01. This represents a 14.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 104,000 shares of company stock worth $49,162,500 in the last quarter. 1.60% of the stock is currently owned by insiders.

Sterling Infrastructure Stock Up 3.5%

Shares of Sterling Infrastructure stock opened at $533.47 on Friday. Sterling Infrastructure, Inc. has a one year low of $161.20 and a one year high of $537.67. The company has a market cap of $16.37 billion, a P/E ratio of 56.93, a PEG ratio of 2.66 and a beta of 1.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $436.19 and a two-hundred day moving average of $381.00.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its earnings results on Wednesday, February 25th. The construction company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.45. Sterling Infrastructure had a net margin of 11.65% and a return on equity of 32.82%. The business had revenue of $755.61 million for the quarter, compared to the consensus estimate of $639.41 million. Sterling Infrastructure has set its FY 2026 guidance at 13.450-14.050 EPS. On average, analysts forecast that Sterling Infrastructure, Inc. will post 12.94 earnings per share for the current 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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