Fred Alger Management LLC Has $33.44 Million Stock Holdings in Sterling Infrastructure, Inc. $STRL

Fred Alger Management LLC grew its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 21.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,200 shares of the construction company’s stock after purchasing an additional 19,399 shares during the quarter. Fred Alger Management LLC’s holdings in Sterling Infrastructure were worth $33,440,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Sterling Infrastructure by 62.0% during the second quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock valued at $261,129,000 after purchasing an additional 433,311 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Sterling Infrastructure by 29.8% during the third quarter. Invesco Ltd. now owns 955,387 shares of the construction company’s stock valued at $324,526,000 after purchasing an additional 219,477 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Sterling Infrastructure by 13.8% during the fourth quarter. First Trust Advisors LP now owns 689,942 shares of the construction company’s stock valued at $211,281,000 after purchasing an additional 83,706 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Sterling Infrastructure by 84.6% during the third quarter. American Century Companies Inc. now owns 654,096 shares of the construction company’s stock valued at $222,184,000 after purchasing an additional 299,724 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Sterling Infrastructure by 45.4% during the third quarter. UBS Group AG now owns 483,864 shares of the construction company’s stock valued at $164,359,000 after purchasing an additional 151,146 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $857.76 on Wednesday. The stock’s 50 day moving average is $692.31 and its 200 day moving average is $484.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $26.32 billion, a P/E ratio of 76.72, a P/E/G ratio of 3.12 and a beta of 1.82. Sterling Infrastructure, Inc. has a one year low of $207.21 and a one year high of $1,005.68.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $1.30. The company had revenue of $825.68 million for the quarter, compared to analyst estimates of $603.58 million. Sterling Infrastructure had a return on equity of 35.64% and a net margin of 12.02%.During the same period in the previous year, the firm earned $1.63 earnings per share. Sterling Infrastructure has set its FY 2026 guidance at 18.400-19.050 EPS. As a group, research analysts expect that Sterling Infrastructure, Inc. will post 18.53 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on STRL shares. Wall Street Zen lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 31st. KeyCorp lifted their price target on Sterling Infrastructure from $889.00 to $922.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. Oppenheimer started coverage on Sterling Infrastructure in a research note on Thursday, May 28th. They set an “outperform” rating and a $950.00 price target on the stock. Weiss Ratings lowered Sterling Infrastructure from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 14th. Finally, Argus started coverage on Sterling Infrastructure in a research note on Thursday, April 16th. They set a “buy” rating and a $510.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Sterling Infrastructure currently has an average rating of “Buy” and a consensus target price of $720.67.

Insider Activity at Sterling Infrastructure

In related news, CEO Joseph A. Cutillo sold 50,000 shares of Sterling Infrastructure stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $497.57, for a total value of $24,878,500.00. Following the transaction, the chief executive officer directly owned 290,593 shares of the company’s stock, valued at $144,590,359.01. The trade was a 14.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.60% of the stock is currently owned by corporate insiders.

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.