Sterling Infrastructure, Inc. $STRL Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Sterling Infrastructure stake by 258.6% in the second quarter, ending with 19,788 shares worth approximately $16.6 million. Institutional investors collectively own 80.95% of STRL.
• Analyst sentiment remains positive, with six Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $690.33, although several firms recently lowered their targets.
• Sterling Infrastructure reported quarterly EPS of $5.80, exceeding estimates by $0.79, while revenue rose 90.4% year over year to $1.17 billion. The stock opened at $484.86, well below its 12-month high of $1,005.68.

NewEdge Advisors LLC boosted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 258.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,788 shares of the construction company's stock after buying an additional 14,270 shares during the quarter. NewEdge Advisors LLC owned approximately 0.06% of Sterling Infrastructure worth $16,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STRL. IFP Advisors Inc boosted its stake in shares of Sterling Infrastructure by 15.8% during the 2nd quarter. IFP Advisors Inc now owns 5,091 shares of the construction company's stock worth $4,273,000 after acquiring an additional 695 shares in the last quarter. Allworth Financial LP raised its holdings in Sterling Infrastructure by 5.4% in the 2nd quarter. Allworth Financial LP now owns 7,224 shares of the construction company's stock worth $6,064,000 after purchasing an additional 369 shares during the period. Arizona State Retirement System raised its holdings in Sterling Infrastructure by 329.0% in the 2nd quarter. Arizona State Retirement System now owns 36,191 shares of the construction company's stock worth $30,377,000 after purchasing an additional 27,754 shares during the period. Waverly Advisors LLC purchased a new position in Sterling Infrastructure during the second quarter worth approximately $365,000. Finally, Nykredit A S acquired a new stake in Sterling Infrastructure in the second quarter valued at approximately $3,683,000. Hedge funds and other institutional investors own 80.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on STRL shares. DA Davidson started coverage on Sterling Infrastructure in a research report on Friday, August 21st. They issued a "buy" rating and a $700.00 price objective for the company. KeyCorp decreased 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. Cantor Fitzgerald dropped their price target on shares of Sterling Infrastructure from $956.00 to $742.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings lowered shares of Sterling Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Finally, Zacks Research cut shares of Sterling Infrastructure from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Sterling Infrastructure has a consensus rating of "Moderate Buy" and a consensus price target of $690.33.

Insider Activity at Sterling Infrastructure

In related news, General Counsel Mark Wolf sold 2,500 shares of the 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 completion of the transaction, the general counsel directly owned 28,137 shares of the company's stock, valued at approximately $24,985,656. This represents a 8.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Sterling Infrastructure Trading Down 2.1%

STRL stock opened at $484.86 on Friday. Sterling Infrastructure, Inc. has a 12-month low of $281.58 and a 12-month high of $1,005.68. The business's 50-day moving average is $574.33 and its 200 day moving average is $605.79. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.19. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 1.72 and a beta of 1.85.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its earnings results on Monday, August 3rd. The construction company reported $5.80 EPS for the quarter, beating analysts' consensus estimates of $5.01 by $0.79. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $969.22 million. Sterling Infrastructure had a return on equity of 40.12% and a net margin of 12.55%.The company'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. On average, sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 19.14 EPS for the current fiscal year.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc provides infrastructure, engineering and construction services across the United States. The company serves public and private-sector customers through three primary business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.

Its E-Infrastructure Solutions segment develops and builds large-scale infrastructure for data centers, advanced manufacturing facilities, energy and communications projects, and other complex industrial sites.

Want to see what other hedge funds are holding STRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.