STRL announced it closed on the acquisition of privately held Stone Ridge Contracting, LLC (Stone Ridge), an Idaho based site development contractor, expanding capacity in strategically key geographies and potentially positioning the company to broaden its mission-critical end markets beyond its current mix. Although terms of the deal were limited, STRL says it expects 2026 full-year revenue of $180-$200 million and EBITDA margins in the mid-teens. The release states the purchase price multiple paid for Stone Ridge is “within Sterling's typical range for site development assets,” implying the upfront consideration multiple is closer to what was paid for the 2021 acquisition of Petillo (roughly 5.5x TTM EBITDA) rather than the one paid for specialty electrical contractor CEC in 2025 (9.6x). We adjust our estimates to reflect our first pass integration of Stone Ridge into the E-Infrastructure segment; this takes our 2026 adjusted EPS estimate to $18.09 (from $17.87) and 2027 adjusted EPS to $26.16 (from $25.68). We also assume a purchase multiple of 7.0x 2026 EBITDA, implying an upfront purchase consideration of about $200 million (funded with cash on hand and stock). Our new $968 price target (from $950) is based on a steady 37x our increased 2027 adjusted EPS estimate of $26.16 (from $25.68).