3,427 Sterling Infrastructure, Inc. $STRL Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 10.8% in the third quarter, HoldingsChannel reports. The firm owned 35,165 shares of the construction company’s stock after purchasing an additional 3,427 shares during the period. Retirement Systems of Alabama’s holdings in Sterling Infrastructure were worth $17,293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its holdings in Sterling Infrastructure by 290.7% during the 2nd quarter. State Street Corp now owns 4,253,073 shares of the construction company’s stock worth $3,569,859,000 after buying an additional 3,164,551 shares during the period. BlackRock Inc. purchased a new stake in Sterling Infrastructure during the second quarter valued at about $2,713,946,000. Jupiter Topco LLC purchased a new stake in Sterling Infrastructure during the second quarter valued at about $395,056,000. First Trust Advisors LP boosted its holdings in shares of Sterling Infrastructure by 27.3% in the first quarter. First Trust Advisors LP now owns 877,990 shares of the construction company’s stock worth $357,579,000 after buying an additional 188,048 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Sterling Infrastructure by 7.5% in the first quarter. Janus Henderson Group PLC now owns 619,145 shares of the construction company’s stock worth $252,207,000 after buying an additional 43,259 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STRL. Stifel Nicolaus dropped their target price on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. JPMorgan Chase & Co. began coverage on shares of Sterling Infrastructure in a research report on Tuesday. They issued an “overweight” rating and a $585.00 price target for the company. DA Davidson decreased their price objective on shares of Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $742.00 price objective on shares of Sterling Infrastructure in a research report on Thursday, October 29th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $709.14.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $301.60 on Friday. The company has a market capitalization of $9.20 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 0.56 and a beta of 1.97. The business’s 50-day moving average price is $438.64 and its two-hundred day moving average price is $547.56. Sterling Infrastructure, Inc. has a one year low of $239.35 and a one year high of $1,005.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 1.04.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.20 by $1.38. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.19 billion. The firm’s revenue for the quarter was up 127.0% compared to the same quarter last year. Analysts anticipate that Sterling Infrastructure, Inc. will post 20.96 earnings per share for the current fiscal year.

Sterling Infrastructure Profile

Sterling Infrastructure, Inc. (NASDAQ: STRL) is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments. E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.