Sterling Infrastructure, Inc. $STRL Shares Sold by Nicholas Investment Partners LP

Key Points

• Nicholas Investment Partners cut its Sterling Infrastructure stake by 39.4% in the second quarter, selling 19,568 shares and retaining 30,120 shares worth approximately $25.3 million. Institutional investors collectively own 80.95% of STRL.
• Analysts remain broadly positive, with seven Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $690.33. However, Cantor Fitzgerald and KeyCorp recently lowered their targets.
• Sterling Infrastructure reported strong quarterly results, including adjusted earnings of $5.80 per share versus the $5.01 consensus and revenue growth of 90.4% year over year. The stock opened at $496.66, down 3.9%, while an insider also sold 2,500 shares at an average price of $888.

Nicholas Investment Partners LP trimmed its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 39.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,120 shares of the construction company's stock after selling 19,568 shares during the quarter. Sterling Infrastructure comprises approximately 1.4% of Nicholas Investment Partners LP's portfolio, making the stock its 11th largest holding. Nicholas Investment Partners LP owned approximately 0.10% of Sterling Infrastructure worth $25,282,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in STRL. Wellington Shields & Co. LLC purchased a new stake in shares of Sterling Infrastructure in the second quarter valued at approximately $29,000. Kemnay Advisory Services Inc. purchased a new position in Sterling Infrastructure during the fourth quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its position in Sterling Infrastructure by 33.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 107 shares of the construction company's stock worth $33,000 after buying an additional 27 shares in the last quarter. Cedar Mountain Advisors LLC boosted its stake in Sterling Infrastructure by 8,000.0% during the first quarter. Cedar Mountain Advisors LLC now owns 81 shares of the construction company's stock worth $33,000 after buying an additional 80 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in Sterling Infrastructure by 6,950.0% during the second quarter. Rakuten Securities Inc. now owns 141 shares of the construction company's stock worth $33,000 after buying an additional 139 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on STRL shares. Zacks Research cut Sterling Infrastructure from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Cantor Fitzgerald reduced their price target on Sterling Infrastructure from $956.00 to $742.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Monday. KeyCorp dropped their price objective on shares of Sterling Infrastructure from $922.00 to $754.00 and set an "overweight" rating for the company in a report on Wednesday, August 5th. Finally, DA Davidson started coverage on shares of Sterling Infrastructure in a research report on Friday. They set a "buy" rating and a $700.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $690.33.

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

Sterling Infrastructure Stock Down 3.9%

STRL stock opened at $496.66 on Tuesday. Sterling Infrastructure, Inc. has a one year low of $266.13 and a one year high of $1,005.68. The firm has a market cap of $15.19 billion, a PE ratio of 35.81, a PEG ratio of 1.80 and a beta of 1.88. The firm's 50 day moving average price is $667.71 and its 200-day moving average price is $599.62. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.11 and a current ratio of 1.11.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The construction company reported $5.80 earnings per share for the quarter, topping the consensus estimate of $5.01 by $0.79. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $969.22 million. Sterling Infrastructure had a return on equity of 40.12% and a net margin of 12.55%.Sterling Infrastructure'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, equities research analysts anticipate that Sterling Infrastructure, Inc. will post 19.15 EPS for the current year.

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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