SkyOak Wealth LLC Purchases New Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

SkyOak Wealth LLC purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,954 shares of the construction company’s stock, valued at approximately $329,000.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after buying an additional 5,106 shares in the last quarter. Bay Rivers Group bought a new position in shares of Sterling Infrastructure in the 4th quarter valued at about $341,000. Park Avenue Securities LLC acquired a new position in shares of Sterling Infrastructure during the 4th quarter worth about $253,000. Principal Financial Group Inc. raised its holdings in shares of Sterling Infrastructure by 1,088.1% in the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after purchasing an additional 325,620 shares during the period. Finally, Algert Global LLC lifted its stake in Sterling Infrastructure by 34.0% in the 3rd quarter. Algert Global LLC now owns 26,141 shares of the construction company’s stock valued at $3,791,000 after purchasing an additional 6,630 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on STRL shares. William Blair initiated coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating on the stock. StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research note on Wednesday.

Sterling Infrastructure Stock Performance

Shares of STRL stock opened at $142.42 on Friday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.46 and a beta of 1.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. Sterling Infrastructure, Inc. has a 52 week low of $74.44 and a 52 week high of $206.07. The company has a 50-day simple moving average of $177.41 and a 200 day simple moving average of $152.17.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.68 by $0.29. The company had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same quarter in the prior year, the business earned $1.26 earnings per share. On average, sell-side analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the sale, the director now directly owns 25,901 shares in the company, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.