New York Life Investment Management LLC decreased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,187 shares of the construction company’s stock after selling 197 shares during the quarter. New York Life Investment Management LLC’s holdings in Sterling Infrastructure were worth $808,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Sterling Infrastructure in the 4th quarter valued at approximately $60,000. Cookson Peirce & Co. Inc. bought a new position in Sterling Infrastructure in the fourth quarter valued at approximately $212,000. Penobscot Investment Management Company Inc. acquired a new position in Sterling Infrastructure during the fourth quarter valued at approximately $220,000. Mackenzie Financial Corp acquired a new stake in shares of Sterling Infrastructure in the 4th quarter valued at $294,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Sterling Infrastructure in the 3rd quarter valued at $265,000. Institutional investors own 80.95% of the company’s stock.
Insider Buying and Selling
In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 1,500 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $110.90, for a total value of $166,350.00. Following the completion of the transaction, the general counsel now directly owns 29,548 shares in the company, valued at $3,276,873.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $110.90, for a total value of $166,350.00. Following the completion of the transaction, the general counsel now directly owns 29,548 shares in the company, valued at approximately $3,276,873.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Mark D. Wolf sold 4,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $108.16, for a total transaction of $432,640.00. Following the transaction, the general counsel now directly owns 31,048 shares of the company’s stock, valued at approximately $3,358,151.68. The disclosure for this sale can be found here. Insiders have sold 198,172 shares of company stock worth $22,019,320 in the last 90 days. Insiders own 3.80% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, DA Davidson reaffirmed a “neutral” rating and issued a $115.00 price objective (up from $86.00) on shares of Sterling Infrastructure in a research note on Wednesday, February 28th.
View Our Latest Research Report on STRL
Sterling Infrastructure Trading Up 3.0 %
Shares of Sterling Infrastructure stock opened at $125.68 on Thursday. The firm has a market capitalization of $3.89 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.21. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $106.94 and its 200 day moving average is $86.86. Sterling Infrastructure, Inc. has a 1 year low of $41.50 and a 1 year high of $128.58.
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, topping 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 for the quarter, compared to analysts’ expectations of $526.90 million. Equities research analysts forecast that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current fiscal year.
About Sterling Infrastructure
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.
See Also
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