VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Shares in Sterling Infrastructure, Inc. $STRL

Key Points

• Virginia Retirement Systems acquired a new stake in Sterling Infrastructure, Inc. during the second quarter, purchasing 5,893 shares valued at approximately $1.36 million.
• Multiple large investors increased their holdings in Sterling Infrastructure, with institutional investors now owning 80.95% of the stock.
• Analysts have a consensus rating of "Buy" for Sterling Infrastructure, with target prices ranging around $355.00, following recent upgrades from various research firms.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,893 shares of the construction company's stock, valued at approximately $1,360,000.

A number of other large investors also recently modified their holdings of STRL. Wealth Enhancement Advisory Services LLC lifted its position in Sterling Infrastructure by 38.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock valued at $544,000 after purchasing an additional 1,337 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Sterling Infrastructure by 11.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 31,429 shares of the construction company's stock worth $3,558,000 after purchasing an additional 3,284 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Sterling Infrastructure in the 1st quarter worth approximately $370,000. Asset Management One Co. Ltd. grew its stake in shares of Sterling Infrastructure by 40.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 52,868 shares of the construction company's stock worth $5,985,000 after purchasing an additional 15,197 shares during the last quarter. Finally, Moran Wealth Management LLC grew its stake in shares of Sterling Infrastructure by 58.6% in the 1st quarter. Moran Wealth Management LLC now owns 4,036 shares of the construction company's stock worth $457,000 after purchasing an additional 1,491 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. Zacks Research raised shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. DA Davidson lifted their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $332.75 on Thursday. The company's 50 day moving average price is $321.53 and its 200 day moving average price is $244.97. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $376.75. The company has a market capitalization of $10.12 billion, a PE ratio of 36.17, a PEG ratio of 2.70 and a beta of 1.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. The company had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. Research analysts expect that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.

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