Sterling Infrastructure, Inc. $STRL Stock Sold by Calamos Advisors LLC

Key Points

• Calamos Advisors cut its Sterling Infrastructure stake by 31.6% in the third quarter, selling 4,513 shares and ending the period with 9,752 shares valued at about $4.8 million.
• Sterling reported quarterly EPS of $7.58, above the $6.20 consensus, while revenue reached $1.56 billion—up 127% year over year.
• Analysts give the stock a “Moderate Buy” consensus, with an average price target of $729.83; six analysts rate it Buy and two rate it Hold.

Calamos Advisors LLC cut its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 31.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,752 shares of the construction company's stock after selling 4,513 shares during the period. Calamos Advisors LLC's holdings in Sterling Infrastructure were worth $4,796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pekin Hardy Strauss Inc. bought a new stake in Sterling Infrastructure during the 3rd quarter worth about $1,320,000. Kestra Advisory Services LLC boosted its stake in shares of Sterling Infrastructure by 79.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 4,732 shares of the construction company's stock worth $2,327,000 after buying an additional 2,102 shares during the last quarter. Conestoga Capital Advisors LLC bought a new position in shares of Sterling Infrastructure in the 3rd quarter valued at about $9,430,000. Kestra Private Wealth Services LLC grew its holdings in shares of Sterling Infrastructure by 22.3% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 6,276 shares of the construction company's stock valued at $3,086,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Guardian Wealth Management Inc. grew its holdings in shares of Sterling Infrastructure by 3.4% in the 3rd quarter. Guardian Wealth Management Inc. now owns 10,394 shares of the construction company's stock valued at $5,112,000 after acquiring an additional 346 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Price Performance

NASDAQ:STRL opened at $252.82 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. The stock's 50 day moving average price is $452.01 and its two-hundred day moving average price is $548.82. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.47 and a beta of 1.97. Sterling Infrastructure, Inc. has a 12-month low of $239.35 and a 12-month high of $1,005.68.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its earnings results on Wednesday, October 28th. The construction company reported $7.58 EPS for the quarter, topping the consensus estimate of $6.20 by $1.38. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.19 billion. Sterling Infrastructure had a return on equity of 45.97% and a net margin of 12.85%. Sterling Infrastructure's quarterly revenue was up 127.0% compared to the same quarter last year. On average, analysts anticipate that Sterling Infrastructure, Inc. will post 20.96 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on STRL shares. KeyCorp lifted their target price on Sterling Infrastructure from $754.00 to $755.00 and gave the company an "overweight" rating in a research report on Thursday, October 15th. Zacks Research cut Sterling Infrastructure from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $742.00 price target on shares of Sterling Infrastructure in a research note on Thursday, October 29th. Stifel Nicolaus decreased their price target on Sterling Infrastructure from $804.00 to $742.00 and set a "buy" rating for the company in a research note on Thursday, October 8th. Finally, Weiss Ratings lowered Sterling Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, September 9th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $729.83.

About Sterling Infrastructure

Sterling Infrastructure, Inc NASDAQ: STRL is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments.

E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.

Formerly known as Sterling Construction Company, the business traces its roots to 1955 and adopted the Sterling Infrastructure name in 2022.

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