WCM Investment Management LLC Increases Stake in Sterling Infrastructure, Inc. $STRL

Key Points

• WCM Investment Management LLC increased its stake in Sterling Infrastructure, Inc. by 42.7% in the second quarter, holding 0.50% of the company's shares worth approximately $34.86 million.
• The New York State Teachers Retirement System raised its ownership in Sterling Infrastructure by a staggering 549.9%, now holding 17,620 shares valued at $4.1 million.
• Sterling Infrastructure reported a quarterly revenue of $403.58 million and an earnings per share (EPS) of $0.64 for the most recent quarter, with analysts projecting an EPS of 5.98 for the current fiscal year.

WCM Investment Management LLC raised its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 42.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 150,567 shares of the construction company's stock after purchasing an additional 45,019 shares during the period. WCM Investment Management LLC owned 0.50% of Sterling Infrastructure worth $34,858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in shares of Sterling Infrastructure by 549.9% in the 2nd quarter. New York State Teachers Retirement System now owns 17,620 shares of the construction company's stock worth $4,065,000 after acquiring an additional 14,909 shares during the last quarter. Harbour Investments Inc. grew its position in Sterling Infrastructure by 21.2% in the 2nd quarter. Harbour Investments Inc. now owns 9,777 shares of the construction company's stock valued at $2,256,000 after acquiring an additional 1,708 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Sterling Infrastructure in the 2nd quarter valued at about $633,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Sterling Infrastructure by 3.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,935 shares of the construction company's stock valued at $446,000 after buying an additional 70 shares during the period. Finally, Yousif Capital Management LLC purchased a new position in shares of Sterling Infrastructure in the 2nd quarter valued at about $2,653,000. Hedge funds and other institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Up 1.1%

STRL opened at $365.39 on Thursday. The business's fifty day moving average is $315.74 and its two-hundred day moving average is $236.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 2.67 and a beta of 1.38. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $376.75.

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

Analysts Set New Price Targets

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

About Sterling Infrastructure

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.