Devon Energy Corp DE Invests $548.39 Billion in Sterling Infrastructure, Inc. $STRL

Devon Energy Corp DE bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the second quarter, HoldingsChannel reports. The firm bought 16,002,051 shares of the construction company’s stock, valued at approximately $548,390,288,000. Sterling Infrastructure accounts for approximately 34.4% of Devon Energy Corp DE’s holdings, making the stock its 2nd biggest position. Devon Energy Corp DE owned 0.52% of Sterling Infrastructure as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wellington Shields & Co. LLC bought a new position in shares of Sterling Infrastructure in the second quarter valued at $29,000. Persistent Asset Partners Ltd bought a new position in Sterling Infrastructure in the 2nd quarter valued at about $40,000. MassMutual Private Wealth & Trust FSB boosted its stake in Sterling Infrastructure by 100.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 60 shares of the construction company’s stock valued at $50,000 after purchasing an additional 30 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Sterling Infrastructure by 43.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 79 shares of the construction company’s stock valued at $66,000 after purchasing an additional 24 shares during the last quarter. Finally, Cedar Mountain Advisors LLC increased its holdings in Sterling Infrastructure by 8,000.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 81 shares of the construction company’s stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock opened at $496.66 on Tuesday. The business’s fifty day simple moving average is $667.71 and its 200 day simple moving average is $599.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.19. Sterling Infrastructure, Inc. has a 12 month low of $266.13 and a 12 month high of $1,005.68. The firm has a market capitalization of $15.19 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 1.80 and a beta of 1.88.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, August 3rd. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.01 by $0.79. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $969.22 million. Sterling Infrastructure had a return on equity of 40.12% and a net margin of 12.55%.The firm’s quarterly revenue was up 90.4% on a year-over-year basis. Sterling Infrastructure has set its FY 2026 guidance at 19.700-20.300 EPS. As a group, analysts anticipate that Sterling Infrastructure, Inc. will post 19.15 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Mark D. Wolf sold 2,500 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $888.00, for a total transaction of $2,220,000.00. Following the completion of the sale, the general counsel owned 28,137 shares in the company, valued at approximately $24,985,656. This trade represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. KeyCorp dropped their target price on Sterling Infrastructure from $922.00 to $754.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Wall Street Zen raised Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a research report on Monday. Cantor Fitzgerald dropped their price objective on Sterling Infrastructure from $956.00 to $742.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Oppenheimer began coverage on shares of Sterling Infrastructure in a report on Thursday, May 28th. They set an “outperform” rating and a $950.00 price objective on the stock. Finally, Weiss Ratings downgraded shares of Sterling Infrastructure from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $690.33.

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.