Yahoo Finance Sterling (STRL) Buys PPG Within the Building Solutions Unit
In a bid to broaden its services and customer base, Sterling Infrastructure, Inc. STRL recently acquired Wylie, TX-based Professional Plumbers Group, Incorporated (PPG) — a premier plumbing services provider to home builders — within its Building Solutions segment.
The said acquisition will expand Sterling's suite of home-building services in the greater Dallas market. Also, it will become a full-service concrete slab and plumbing provider.
The transaction price includes a cash payment of $50 million and an earnout opportunity based on achieving future EBITDA targets.
Earlier, on Dec 20, 2022, the company completed the acquisition of Concrete Construction Services of Arizona LLC and its affiliate (“CCS”) for approximately $21,000. CCS provides residential single-family home concrete foundations in the Greater Phoenix area. CCS was included within Tealstone, which is a part of the Building Solutions segment.
In December 2021, Sterling completed the acquisition of Petillo LLC and its related entities. Petillo is a leading specialty site development solution provider in the Northeast and Mid-Atlantic. Also, it acquired Kimes & Stone, which provides diverse services, including soil stabilization for site development on e-commerce projects such as large fulfillment and distribution centers and data centers, as well as soil stabilization for roadways and manufacturing plant construction.
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In the past three months, shares of this Zacks Rank #2 (Buy) have gained 46.4% compared with the Zacks Engineering - R and D Services industry’s 9.4% growth.
Other 3 Top-Ranked Construction Stocks Hogging in the Limelight
Gates Industrial Corporation plc GTES manufactures engineered power transmission and fluid power solutions.
GTES currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GTES’ expected earnings growth rate for 2023 is 10.5%. The consensus mark for GTES’ 2023 earnings has moved north to $1.26 per share from $1.21 in the past 30 days.
Howmet Aerospace, Inc. HWM is a global manufacturer of engineered products serving the aerospace, defense and commercial transportation industries. The company is expected to benefit from higher aircraft production rates and the ease of supply chains in the transportation market.
Howmet Aerospace currently carries a Zacks Rank #2. HWM’s earnings for 2023 are expected to grow by 27.1%. The consensus mark for HWM’s 2023 earnings has moved north to $1.78 per share from $1.77 in the past seven days.
Willdan Group, Inc. WLDN is a nationwide provider of professional, technical and consulting services to utilities, government agencies and private industry.
WLDN presently carries a Zacks Rank #2. Its expected earnings growth rate for 2023 is 50%.
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Willdan Group, Inc. (WLDN) : Free Stock Analysis Report
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Howmet Aerospace Inc. (HWM) : Free Stock Analysis Report
