Sterling Infrastructure, Inc. $STRL Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 31.3% during the third quarter, Holdings Channel.com reports. The firm owned 46,126 shares of the construction company’s stock after selling 20,987 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Sterling Infrastructure were worth $15,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Sterling Infrastructure during the second quarter worth approximately $26,000. Root Financial Partners LLC purchased a new position in Sterling Infrastructure in the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in Sterling Infrastructure during the 3rd quarter worth approximately $28,000. Ameritas Advisory Services LLC purchased a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at approximately $29,000. Finally, Bessemer Group Inc. increased its position in shares of Sterling Infrastructure by 119.3% in the 2nd quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock valued at $29,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Dwayne Andree Wilson sold 2,860 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $350.00, for a total value of $1,001,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Sterling Infrastructure Stock Up 5.1%

STRL opened at $386.78 on Wednesday. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $419.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $11.88 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 2.15 and a beta of 1.51. The business’s 50-day simple moving average is $330.42 and its 200-day simple moving average is $325.80.

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

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

Analyst Ratings Changes

Several research firms have recently issued reports on STRL. Cantor Fitzgerald started coverage on shares of Sterling Infrastructure in a research report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price objective for the company. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note 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, DA Davidson increased their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

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.