In the third quarter, Abacus FCF Advisors LLC initiated a position in Sterling Infrastructure by acquiring 22,374 shares valued at approximately $7.6 million, representing 0.07% of the company. This marks the firm’s first reported stake in the construction and infrastructure specialist, according to its latest SEC filing.

Other institutional investors also adjusted their holdings during the same period. Diversified Trust Co increased its stake by 2.1%, adding 127 shares for a total of 6,244 shares. Ethic Inc. raised its position by 7.9% to 1,166 shares, while HM Payson & Co., Perigon Wealth Management LLC and FSM Wealth Advisors LLC each initiated new stakes valued between $58,000 and $235,000. Collectively, institutional investors now own 80.95% of the company’s outstanding stock.

For the quarter ended June 3, Sterling Infrastructure reported revenue of $403.58 million and earnings per share of $0.64. The company delivered a net margin of 14.14% and a return on equity of 29.81%. On a trailing basis, the firm carries a P/E ratio of 30.47, a PEG ratio of 2.14 and maintains a debt-to-equity ratio of 0.26, supported by current and quick ratios of 1.00 each.

On November 12, the board approved a buyback program authorizing repurchases of up to $400 million of common stock, equivalent to approximately 3.4% of shares outstanding. Management indicated that the authorization reflects confidence in the company’s cash flow generation and belief that shares are trading below intrinsic value.