Public Sector Pension Investment Board Has $40.32 Million Stake in Sterling Infrastructure, Inc. $STRL

Public Sector Pension Investment Board lifted its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 14.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,703 shares of the construction company’s stock after acquiring an additional 14,977 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.39% of Sterling Infrastructure worth $40,321,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STRL. Empowered Funds LLC acquired a new stake in Sterling Infrastructure during the 1st quarter valued at $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Sterling Infrastructure by 12.9% in 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 stake in shares of Sterling Infrastructure by 13.7% during the 1st quarter. Focus Partners Wealth now owns 2,313 shares of the construction company’s stock worth $262,000 after buying an additional 279 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Sterling Infrastructure during the 2nd quarter worth about $29,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of Sterling Infrastructure during the 2nd quarter worth about $305,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dwayne Andree Wilson sold 2,860 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the completion of the transaction, the director owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. The trade was a 16.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $410.00, for a total value of $820,000.00. Following the sale, the director owned 11,498 shares of the company’s stock, valued at approximately $4,714,180. This represents a 14.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 6,860 shares of company stock worth $2,611,000. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

STRL has been the topic of several research analyst reports. Weiss Ratings raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Cantor Fitzgerald initiated coverage on Sterling Infrastructure in a research report on Friday, January 23rd. They issued an “overweight” rating and a $413.00 target price on the stock. Stifel Nicolaus set a $486.00 price target on Sterling Infrastructure and gave the stock a “buy” rating in a report on Wednesday. DA Davidson boosted their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $453.00.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL opened at $431.43 on Friday. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $470.00. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50 day simple moving average is $340.38 and its 200 day simple moving average is $332.13.

Sterling Infrastructure declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 12th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About Sterling Infrastructure

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.