Sterling Infrastructure, Inc. $STRL Shares Sold by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. lessened its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 87.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 445 shares of the construction company’s stock after selling 3,089 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Sterling Infrastructure were worth $151,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC acquired a new stake in Sterling Infrastructure in the first quarter valued at approximately $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 buying an additional 9,625 shares during the last quarter. Focus Partners Wealth lifted its position in 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 acquiring an additional 279 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Sterling Infrastructure by 9.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,251 shares of the construction company’s stock valued at $1,243,000 after buying an additional 447 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Sterling Infrastructure by 67.7% during the second quarter. Farther Finance Advisors LLC now owns 1,746 shares of the construction company’s stock worth $403,000 after acquiring an additional 705 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $362.53 on Thursday. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $419.14. 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 firm has a market capitalization of $11.14 billion, a PE ratio of 35.54, a P/E/G ratio of 2.05 and a beta of 1.50. The business’s fifty day moving average price is $323.55 and its two-hundred day moving average price is $317.13.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.69. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%.The company had revenue of $689.02 million for the quarter, compared to analyst estimates of $618.80 million. On average, research analysts expect that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure declared that its Board of Directors has approved a share buyback plan on Wednesday, November 12th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure 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 in the company, valued at approximately $5,162,150. The trade was a 16.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on STRL shares. DA Davidson upped their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Weiss Ratings lowered shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $460.00.

Sterling Infrastructure 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.