TimesSquare Capital Management LLC Purchases Shares of 23,600 Sterling Infrastructure, Inc. $STRL

TimesSquare Capital Management LLC acquired a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,600 shares of the construction company’s stock, valued at approximately $8,016,000. TimesSquare Capital Management LLC owned approximately 0.08% of Sterling Infrastructure at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in STRL. UMB Bank n.a. grew its position in shares of Sterling Infrastructure by 27.5% during the 3rd quarter. UMB Bank n.a. now owns 130 shares of the construction company’s stock worth $44,000 after buying an additional 28 shares during the period. Hantz Financial Services Inc. boosted its stake in Sterling Infrastructure by 16.1% during the second quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock worth $68,000 after acquiring an additional 41 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in Sterling Infrastructure by 22.6% in the third quarter. Richardson Financial Services Inc. now owns 233 shares of the construction company’s stock worth $79,000 after purchasing an additional 43 shares during the period. Private Trust Co. NA increased its stake in Sterling Infrastructure by 9.4% in the second quarter. Private Trust Co. NA now owns 591 shares of the construction company’s stock valued at $136,000 after purchasing an additional 51 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Sterling Infrastructure by 54.8% in the second quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company’s stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Insider Activity

In other news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $410.00, for a total value of $820,000.00. Following the completion of the transaction, the director directly owned 11,498 shares in the company, valued at approximately $4,714,180. This trade represents a 14.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwayne Andree Wilson sold 2,860 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the transaction, the director directly owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. This represents a 16.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 6,860 shares of company stock worth $2,611,000. Company insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Trading Up 1.5%

Shares of STRL stock opened at $437.77 on Monday. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $470.00. The company’s fifty day simple moving average is $342.63 and its two-hundred day simple moving average is $334.32. 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 stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 2.51 and a beta of 1.51.

Sterling Infrastructure announced that its Board of Directors has authorized a share buyback program on Wednesday, November 12th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the construction company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Sterling Infrastructure Company 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.