New York State Common Retirement Fund lifted its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 29.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 79,893 shares of the construction company’s stock after buying an additional 18,333 shares during the period. New York State Common Retirement Fund’s holdings in Sterling Infrastructure were worth $7,025,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Sterling Infrastructure by 45.0% during the 3rd quarter. FMR LLC now owns 847,335 shares of the construction company’s stock worth $62,262,000 after acquiring an additional 263,046 shares during the period. Lord Abbett & CO. LLC raised its stake in Sterling Infrastructure by 347.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 616,017 shares of the construction company’s stock worth $45,265,000 after acquiring an additional 478,331 shares during the period. Congress Asset Management Co. MA raised its stake in Sterling Infrastructure by 6.3% during the 3rd quarter. Congress Asset Management Co. MA now owns 549,375 shares of the construction company’s stock worth $40,368,000 after acquiring an additional 32,597 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Sterling Infrastructure by 11.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,659 shares of the construction company’s stock worth $34,364,000 after acquiring an additional 47,327 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Sterling Infrastructure by 43.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 365,027 shares of the construction company’s stock worth $26,822,000 after acquiring an additional 110,146 shares during the period. Institutional investors own 80.95% of the company’s stock.
Sterling Infrastructure Trading Up 1.5 %
Shares of STRL opened at $100.65 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.25. Sterling Infrastructure, Inc. has a 1 year low of $39.30 and a 1 year high of $116.36. The company has a 50 day simple moving average of $105.64 and a two-hundred day simple moving average of $85.63. The firm has a market cap of $3.11 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.21.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last posted its earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. The firm had revenue of $485.98 million during the quarter, compared to analyst estimates of $526.90 million. On average, equities analysts expect that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, DA Davidson restated a “neutral” rating and set a $115.00 target price (up previously from $86.00) on shares of Sterling Infrastructure in a research note on Wednesday, February 28th.
View Our Latest Stock Report on Sterling Infrastructure
Insider Activity at Sterling Infrastructure
In other Sterling Infrastructure news, CFO Ronald A. Ballschmiede sold 3,289 shares of Sterling Infrastructure stock in a transaction on Monday, March 25th. The shares were sold at an average price of $113.52, for a total transaction of $373,367.28. Following the completion of the transaction, the chief financial officer now directly owns 267,171 shares of the company’s stock, valued at $30,329,251.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sterling Infrastructure news, CFO Ronald A. Ballschmiede sold 3,289 shares of Sterling Infrastructure stock in a transaction on Monday, March 25th. The shares were sold at an average price of $113.52, for a total transaction of $373,367.28. Following the completion of the transaction, the chief financial officer now directly owns 267,171 shares of the company’s stock, valued at $30,329,251.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph A. Cutillo sold 40,713 shares of Sterling Infrastructure stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $111.74, for a total value of $4,549,270.62. Following the sale, the chief executive officer now owns 606,455 shares of the company’s stock, valued at $67,765,281.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,172 shares of company stock valued at $22,019,320. 3.70% of the stock is owned by corporate insiders.
Sterling Infrastructure Company Profile
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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