Union Bancaire Privee UBP SA Invests $4.30 Million in Sterling Infrastructure, Inc. $STRL

by · The Cerbat Gem

Union Bancaire Privee UBP SA purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,650 shares of the construction company’s stock, valued at approximately $4,297,000.

Other hedge funds have also bought and sold shares of the company. Cookson Peirce & Co. Inc. bought a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at approximately $19,761,000. Ieq Capital LLC boosted its holdings in Sterling Infrastructure by 94.8% in the first quarter. Ieq Capital LLC now owns 8,144 shares of the construction company’s stock worth $922,000 after purchasing an additional 3,963 shares during the period. Vontobel Holding Ltd. acquired a new position in Sterling Infrastructure in the second quarter worth $305,000. New York State Teachers Retirement System increased its stake in Sterling Infrastructure by 549.9% during the second quarter. New York State Teachers Retirement System now owns 17,620 shares of the construction company’s stock valued at $4,065,000 after purchasing an additional 14,909 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Sterling Infrastructure by 8.3% during the second quarter. JPMorgan Chase & Co. now owns 122,623 shares of the construction company’s stock worth $28,293,000 after purchasing an additional 9,374 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on STRL shares. DA Davidson lifted their price target on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Zacks Research upgraded shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $460.00.

Get Our Latest Report on Sterling Infrastructure

Sterling Infrastructure Price Performance

NASDAQ STRL opened at $319.13 on Wednesday. The company has a 50-day moving average price of $351.43 and a two-hundred day moving average price of $298.95. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $419.14. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 2.16 and a beta of 1.49. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26.

Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last released its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%.The company had revenue of $403.58 million for the quarter. Analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure declared that its board has initiated a stock 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 typically an indication that the company’s board believes its stock is undervalued.

Sterling Infrastructure Profile

(Free Report)

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.

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