Sterling Infrastructure, Inc. $STRL Shares Sold by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management cut its Sterling Infrastructure stake by 29.2% in the fourth quarter, selling 17,189 shares and leaving it with 41,668 shares valued at about $12.76 million.
• Despite that sale, institutional ownership remains high, with hedge funds and other institutions holding 80.95% of the stock and several firms recently adding to their positions.
• Analyst sentiment is still upbeat: Sterling Infrastructure has an average “Buy” rating, with a consensus price target of $720.67, even as some firms recently adjusted their ratings and targets higher.

Rockefeller Capital Management L.P. reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 29.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,668 shares of the construction company's stock after selling 17,189 shares during the quarter. Rockefeller Capital Management L.P. owned 0.14% of Sterling Infrastructure worth $12,760,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STRL. Empowered Funds LLC purchased a new position in Sterling Infrastructure in the 1st quarter worth approximately $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Sterling Infrastructure by 12.9% during the first 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 lifted its position in shares of Sterling Infrastructure by 13.7% during the first quarter. Focus Partners Wealth now owns 2,313 shares of the construction company's stock worth $262,000 after purchasing an additional 279 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sterling Infrastructure during the second quarter worth $5,929,000. Finally, Cerity Partners LLC lifted its position in shares of Sterling Infrastructure by 195.7% during the second quarter. Cerity Partners LLC now owns 19,522 shares of the construction company's stock worth $4,504,000 after purchasing an additional 12,921 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on STRL. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Sterling Infrastructure in a report on Thursday, June 18th. KeyCorp boosted their price objective on shares of Sterling Infrastructure from $889.00 to $922.00 and gave the stock an "overweight" rating in a report on Tuesday, June 2nd. Argus began coverage on shares of Sterling Infrastructure in a research report on Thursday, April 16th. They issued a "buy" rating and a $510.00 price objective for the company. Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 20th. Finally, Weiss Ratings downgraded Sterling Infrastructure from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $720.67.

Insiders Place Their Bets

In other news, CEO Joseph A. Cutillo sold 50,000 shares of the business's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $497.57, for a total value of $24,878,500.00. Following the completion of the sale, the chief executive officer owned 290,593 shares of the company's stock, valued at approximately $144,590,359.01. The trade was a 14.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.60% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock opened at $867.23 on Thursday. Sterling Infrastructure, Inc. has a 52 week low of $217.07 and a 52 week high of $1,005.68. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market cap of $26.62 billion, a P/E ratio of 77.57, a price-to-earnings-growth ratio of 3.21 and a beta of 1.82. The stock has a 50 day moving average of $746.58 and a 200-day moving average of $507.51.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $603.58 million. Sterling Infrastructure had a net margin of 12.02% and a return on equity of 35.64%. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Sterling Infrastructure has set its FY 2026 guidance at 18.400-19.050 EPS. On average, analysts expect that Sterling Infrastructure, Inc. will post 18.53 EPS for the current fiscal 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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