Sterling Infrastructure, Inc. $STRL Holdings Increased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Sterling Infrastructure stake by 23.8% in the first quarter, bringing its holdings to 35,760 shares valued at approximately $14.6 million. Institutional investors collectively own 80.95% of the company.
• Sterling Infrastructure reported quarterly EPS of $3.59, exceeding analyst expectations of $2.29, while revenue reached $825.67 million versus the $603.58 million consensus estimate.
• Analysts maintain a consensus “Buy” rating with a $720.67 average price target, although the stock recently opened at $596.77; meanwhile, a company general counsel sold 2,500 shares at an average price of $888.

California State Teachers Retirement System lifted its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 23.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,760 shares of the construction company's stock after acquiring an additional 6,871 shares during the period. California State Teachers Retirement System owned 0.12% of Sterling Infrastructure worth $14,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC acquired a new stake in Sterling Infrastructure in the first quarter worth approximately $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 valued at $9,508,000 after purchasing an additional 9,625 shares during the period. Focus Partners Wealth increased its position in shares of Sterling Infrastructure by 13.7% during the 1st quarter. Focus Partners Wealth now owns 2,313 shares of the construction company's stock valued at $262,000 after purchasing an additional 279 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Sterling Infrastructure in the 2nd quarter worth $5,929,000. Finally, Cerity Partners LLC raised its stake in shares of Sterling Infrastructure by 195.7% in the 2nd quarter. Cerity Partners LLC now owns 19,522 shares of the construction company's stock worth $4,504,000 after buying an additional 12,921 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $596.77 on Monday. The company has a market capitalization of $18.31 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 2.18 and a beta of 1.88. 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 stock has a fifty day moving average of $765.43 and a 200-day moving average of $578.26. Sterling Infrastructure, Inc. has a one year low of $244.02 and a one year high of $1,005.68.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its earnings results on Monday, May 4th. The construction company reported $3.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $1.30. The business had revenue of $825.67 million for the quarter, compared to analysts' expectations 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 previous year, the firm posted $1.63 EPS. As a group, equities analysts anticipate that Sterling Infrastructure, Inc. will post 18.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

STRL has been the subject of several research reports. Zacks Research raised Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 1st. Wall Street Zen cut shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. Weiss Ratings downgraded shares of Sterling Infrastructure from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. KeyCorp raised their price objective on shares of Sterling Infrastructure from $889.00 to $922.00 and gave the company an "overweight" rating in a research report on Tuesday, June 2nd. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Sterling Infrastructure in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $720.67.

Insider Activity at Sterling Infrastructure

In other 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 transaction of $2,220,000.00. Following the completion of the sale, the general counsel directly owned 28,137 shares of the company's stock, valued at $24,985,656. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Company 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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