23,600 Shares in Sterling Infrastructure, Inc. $STRL Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC purchased a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 3rd quarter, HoldingsChannel reports. The firm purchased 23,600 shares of the construction company’s stock, valued at approximately $8,016,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of STRL. Empowered Funds LLC purchased a new stake in shares of Sterling Infrastructure during the first quarter valued at approximately $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Sterling Infrastructure by 12.9% during the 1st 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 boosted 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 valued at $262,000 after buying an additional 279 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in Sterling Infrastructure in the 2nd quarter worth $433,000. Finally, CWM LLC increased its position in shares of Sterling Infrastructure by 32.1% in the second quarter. CWM LLC now owns 5,485 shares of the construction company’s stock valued at $1,266,000 after acquiring an additional 1,332 shares during the period. Institutional investors own 80.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STRL. Stifel Nicolaus set a $486.00 target price on shares of Sterling Infrastructure and gave the stock a “buy” rating in a report on Wednesday. DA Davidson lifted their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Cantor Fitzgerald initiated coverage on Sterling Infrastructure in a research note on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price target for the company. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings upgraded shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $453.00.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 14,749 shares in the company, valued at approximately $5,162,150. This trade represents a 16.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $410.00, for a total transaction of $820,000.00. Following the completion of the transaction, the director directly owned 11,498 shares of the company’s stock, valued at $4,714,180. This trade represents a 14.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 6,860 shares of company stock worth $2,611,000. 2.70% of the stock is currently owned by company insiders.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock opened at $437.77 on Monday. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $470.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $13.45 billion, a P/E ratio of 42.92, a PEG ratio of 2.51 and a beta of 1.51. The stock’s 50 day moving average is $342.63 and its 200 day moving average is $334.32.

Sterling Infrastructure announced that its board has approved a share buyback program on Wednesday, November 12th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the construction company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.