Renaissance Technologies LLC Reduces Position in Sterling Infrastructure, Inc. $STRL

Renaissance Technologies LLC decreased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 4.5% in the first quarter, HoldingsChannel reports. The fund owned 766,914 shares of the construction company’s stock after selling 36,280 shares during the quarter. Sterling Infrastructure makes up about 0.5% of Renaissance Technologies LLC’s portfolio, making the stock its 21st largest holding. Renaissance Technologies LLC’s holdings in Sterling Infrastructure were worth $312,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caxton Associates LLP purchased a new position in Sterling Infrastructure during the first quarter valued at $1,059,000. Inceptionr LLC purchased a new stake in Sterling Infrastructure in the first quarter worth about $613,000. Greenline Wealth Management LLC increased its position in Sterling Infrastructure by 43.9% in the first quarter. Greenline Wealth Management LLC now owns 505 shares of the construction company’s stock worth $206,000 after buying an additional 154 shares in the last quarter. Gibbs Wealth Management raised its stake in shares of Sterling Infrastructure by 95.7% in the first quarter. Gibbs Wealth Management now owns 7,306 shares of the construction company’s stock worth $2,976,000 after buying an additional 3,573 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Sterling Infrastructure by 58.9% in the first quarter. Sei Investments Co. now owns 59,749 shares of the construction company’s stock worth $24,333,000 after buying an additional 22,149 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Trading Down 7.9%

Shares of STRL stock opened at $660.93 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a fifty day simple moving average of $782.89 and a two-hundred day simple moving average of $567.40. The firm has a market capitalization of $20.28 billion, a PE ratio of 59.12, a PEG ratio of 2.62 and a beta of 1.83. Sterling Infrastructure, Inc. has a 52-week low of $244.02 and a 52-week high of $1,005.68.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Monday, May 4th. The construction company reported $3.59 EPS for the quarter, beating the consensus estimate of $2.29 by $1.30. The business had revenue of $825.67 million for the quarter, compared to the consensus estimate of $603.58 million. Sterling Infrastructure had a return on equity of 35.64% and a net margin of 12.02%.During the same period in the previous year, the business earned $1.63 earnings per share. Sterling Infrastructure has set its FY 2026 guidance at 18.400-19.050 EPS. On average, analysts predict that Sterling Infrastructure, Inc. will post 18.24 EPS for the current fiscal year.

Insider Transactions at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 2,500 shares of Sterling Infrastructure stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $888.00, for a total transaction of $2,220,000.00. Following the sale, the general counsel owned 28,137 shares of the company’s stock, valued at approximately $24,985,656. This trade represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on STRL shares. Oppenheimer started coverage on Sterling Infrastructure in a research report on Thursday, May 28th. They set an “outperform” rating and a $950.00 price objective on the stock. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Zacks Research upgraded shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 1st. Weiss Ratings raised shares of Sterling Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Finally, KeyCorp upped their price target on shares of Sterling Infrastructure from $889.00 to $922.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $720.67.

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.