Who Owns Sterling Infrastructure Company?

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Who owns Sterling Infrastructure?

Understanding Sterling Infrastructure's ownership is key to its strategy. The company rebranded in June 2022 from Sterling Construction Company, Inc., expanding its focus beyond highways and bridges to become a diversified infrastructure solutions provider.

Who Owns Sterling Infrastructure Company?

Founded in 1955, the company has grown significantly, now specializing in data centers, highways, and bridges. As of July 2025, its market capitalization stands at approximately $7.69 billion USD.

Who owns Sterling Infrastructure Company?

Who Founded Sterling Infrastructure?

Sterling Infrastructure, Inc. traces its origins back to 1955 when it was founded as Oakhurst Company, Inc. by brothers James and Richard Manning in Sterling Heights, Michigan. Their initial focus was on civil construction, laying the groundwork for the company's future expansion and eventual public trading.

Founding Year Original Name Founders Initial Focus Location
1955 Oakhurst Company, Inc. James and Richard Manning Civil Construction Sterling Heights, Michigan
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Founding Vision

The Manning brothers established the company with a vision centered on civil construction projects. Their early endeavors set the stage for future growth and diversification.

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Early Operations Expansion

The company later relocated to Houston, Texas, significantly expanding its operational scope. This move facilitated growth in key infrastructure areas.

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Key Infrastructure Services

Operations broadened to include underground sanitary sewers, water mains, and storm sewers. Paving and light rail infrastructure also became core services.

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Corporate Evolution

Over time, the company evolved through significant structural changes. These transformations were crucial in its path to becoming a publicly traded entity.

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Merger and Public Offering

A pivotal moment was the merger of Oakhurst Company, Inc. with Steel City Products, Inc. This led to the formation of Sterling Construction Company, Inc., which subsequently became a publicly traded company.

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Limited Early Ownership Data

Specific details regarding initial equity splits, early investors, or founder vesting schedules are not readily available in public records. This makes a precise delineation of early control challenging.

The early history of Sterling Infrastructure, Inc. is marked by significant operational expansion and corporate restructuring. While the founding brothers, James and Richard Manning, established the company in 1955, detailed information about initial ownership stakes, early investors, or any buy-sell agreements from that period is not publicly documented. The company's move to Houston, Texas, and its subsequent development into Texas Sterling Construction, followed by a merger with Steel City Products, Inc. to form Sterling Construction Company, Inc., laid the foundation for its eventual status as a publicly traded entity. Understanding the Competitors Landscape of Sterling Infrastructure provides context for its growth trajectory.

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Key Milestones in Early Ownership and Structure

The company's journey from its founding in 1955 to becoming a publicly traded entity involved several critical stages. These stages shaped its ownership structure and operational focus.

  • Founding as Oakhurst Company, Inc. by James and Richard Manning in 1955.
  • Relocation to Houston, Texas, and expansion of services.
  • Formation of Texas Sterling Construction, focusing on heavy civil infrastructure.
  • Merger with Steel City Products, Inc. to create Sterling Construction Company, Inc.
  • Transition to a publicly traded company, impacting Sterling Infrastructure ownership.

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How Has Sterling Infrastructure’s Ownership Changed Over Time?

Sterling Infrastructure, Inc. became a publicly traded entity in July 1991, marking the beginning of its evolving ownership landscape. The company's journey has seen a significant shift towards institutional control, reflecting investor confidence in its market position and growth trajectory.

Ownership Category Percentage Notes
Institutional Shareholders 87.53% As of July 2025, representing a substantial majority of ownership.
Insider Shareholders 19.09% Reflects ownership by company executives and directors.

The Sterling Infrastructure ownership structure as of July 2025 is predominantly held by institutional investors, who collectively own 87.53% of the company. This broad institutional backing underscores the company's appeal to large investment firms. Insiders, including executives and directors, hold a notable 19.09%, indicating alignment between management and shareholders. Understanding who owns Sterling Infrastructure provides insight into the company's strategic direction and financial stability.

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Key Institutional Stakeholders

Major institutional investors play a crucial role in Sterling Infrastructure's shareholder base. These entities often bring significant capital and strategic oversight.

  • BlackRock, Inc. is a leading shareholder with 4,611,532 shares, valued at approximately $1.2 billion as of April 30, 2025.
  • Vanguard Group Inc. is another significant institutional owner.
  • Other notable institutional stakeholders include Fuller & Thaler Asset Management, Inc., Fmr Llc, Renaissance Technologies Llc, Dimensional Fund Advisors Lp, and Geode Capital Management, Llc.
  • Collectively, these institutions hold 35,123,964 shares.

Christopher H. B. Mills stands out as the largest individual shareholder in Sterling Infrastructure, possessing 1.34 million shares, which accounts for 4.42% of the company's total shares. The value of his stake was approximately $337.27 million. The company's robust financial performance in 2024, with a 7% revenue increase to $2.1 billion and a 36% surge in adjusted net income to $189.9 million ($6.10 per diluted share), likely contributes to the sustained interest from both institutional and individual investors. This growth, coupled with strategic acquisitions, is a key factor in the current Sterling Infrastructure Inc. shareholders' confidence and the overall Sterling Infrastructure stock ownership trends. For a deeper understanding of how the company plans to leverage its market position, consider the Marketing Strategy of Sterling Infrastructure.

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Who Sits on Sterling Infrastructure’s Board?

As of July 2025, Sterling Infrastructure, Inc. is overseen by a board of directors consisting of eight members. A significant majority, seven of these directors, are classified as independent, ensuring robust oversight. Joseph A. Cutillo, the company's Chief Executive Officer, is the sole non-independent director.

Director Name Independence Status Committee Assignments
Joseph A. Cutillo Non-Independent None specified
Roger A. Cregg Independent Chairman of the Board, Audit Committee Chair
Julie A. Dill Independent Compensation Committee Chair
Dana C. O'Brien Independent HR Committee Chair
Andrew Rose Independent Compensation and Talent Development Committee, Corporate Governance and Nominating Committee
David Schulz Independent Compensation and Talent Development Committee, Audit Committee
William T. Bosway Independent None specified
Dwayne A. Wilson Independent None specified

The voting power within Sterling Infrastructure, Inc. is structured around a one-vote-per-share system for both director elections and other proposals presented at annual meetings. This structure means that Sterling Infrastructure Inc. shareholders' influence is directly proportional to their shareholdings. The company’s governance framework prioritizes independent board leadership, with the Chairman of the Board, Roger A. Cregg, elected effective January 1, 2025, playing a crucial role in presiding over board meetings and executive sessions of independent directors. This separation of the Chairman and CEO roles is a key element in their corporate governance, fostering accountability. Recent proxy statements from 2024 and 2025 do not indicate any significant shareholder disputes or activist investor involvement, suggesting a stable ownership and governance environment. Understanding the Target Market of Sterling Infrastructure can provide further context on the company's strategic direction and how its leadership aims to serve its stakeholders.

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Sterling Infrastructure's Governance and Voting Structure

Sterling Infrastructure's board is designed for effective oversight, with a strong emphasis on independent directors. The voting power is straightforward, with each common stock share granting one vote.

  • 8 members on the Board of Directors as of July 2025.
  • 7 out of 8 directors are independent.
  • Joseph A. Cutillo serves as CEO and is the only non-independent director.
  • Roger A. Cregg is the Chairman of the Board.
  • Voting is based on one vote per share of common stock.
  • No dual-class shares or special voting rights have been publicly disclosed.

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What Recent Changes Have Shaped Sterling Infrastructure’s Ownership Landscape?

Sterling Infrastructure, Inc. has seen shifts in its ownership landscape driven by strategic growth initiatives and capital allocation decisions over the past few years. The company's focus on acquisitions and share repurchases has directly impacted its shareholder structure and financial positioning.

Financial Period Share Repurchases Net Cash Position
Q4 2024 $20 million $348 million
Q1 2025 $44 million $329 million

The company's recent strategic moves, including significant acquisitions and leadership changes, are reshaping its operational focus and, consequently, its ownership trends. These developments are indicative of a broader industry movement towards consolidation within high-growth infrastructure sectors, particularly E-Infrastructure.

Icon Strategic Acquisitions Driving Growth

Sterling Infrastructure acquired Drake Concrete, LLC for $25 million in Q1 2025, adding to its residential concrete slab business. The company also agreed to acquire CEC Facilities Group, LLC for approximately $590 million, a move expected to significantly boost its E-Infrastructure Solutions segment.

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A share repurchase program, authorized in December 2023 for up to $200 million over 24 months, has seen substantial activity. In Q4 2024, $20 million was repurchased, followed by an additional $44 million in Q1 2025, demonstrating a commitment to returning capital to Sterling Infrastructure Inc. shareholders.

Icon Leadership and Governance Updates

Nicholas Grindstaff was appointed Chief Financial Officer effective July 10, 2025, following interim leadership. Roger A. Cregg became Chairman of the Board on January 1, 2025. These changes reflect a focus on experienced leadership to guide the company's strategic direction.

Icon Financial Performance and Outlook

In 2024, Sterling Infrastructure reported a 7% revenue increase to $2.1 billion and a 36% rise in adjusted net income to $189.9 million. This strong financial performance supports its ongoing Growth Strategy of Sterling Infrastructure, including further investments and potential shareholder returns.

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