1858 Wealth Management LLC Makes New Investment in Sterling Infrastructure, Inc. (NASDAQ:STRL)

1858 Wealth Management LLC purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,072 shares of the construction company's stock, valued at approximately $686,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. raised its stake in Sterling Infrastructure by 1,088.1% during the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock worth $51,561,000 after acquiring an additional 325,620 shares in the last quarter. International Assets Investment Management LLC grew its stake in Sterling Infrastructure by 14,112.0% during the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company's stock worth $20,610,000 after purchasing an additional 141,120 shares during the period. Congress Asset Management Co. boosted its position in shares of Sterling Infrastructure by 19.1% during the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock worth $93,962,000 after purchasing an additional 104,096 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Sterling Infrastructure by 19.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company's stock worth $89,608,000 after purchasing an additional 102,101 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Sterling Infrastructure by 58.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company's stock worth $18,682,000 after purchasing an additional 47,734 shares in the last quarter. Institutional investors own 80.95% of the company's stock.

Insider Buying and Selling

In other news, Director Dana C. O'brien sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the transaction, the director now owns 25,901 shares of the company's stock, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STRL has been the topic of several recent research reports. StockNews.com cut shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Thursday. William Blair started coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They set an "outperform" rating for the company.

Sterling Infrastructure Price Performance

NASDAQ:STRL traded up $1.37 during mid-day trading on Friday, reaching $149.72. The stock had a trading volume of 369,995 shares, compared to its average volume of 506,250. The firm has a 50 day moving average price of $172.14 and a two-hundred day moving average price of $152.86. The stock has a market capitalization of $4.60 billion, a P/E ratio of 25.29, a P/E/G ratio of 1.53 and a beta of 1.24. Sterling Infrastructure, Inc. has a one year low of $76.01 and a one year high of $206.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The business had revenue of $593.74 million for the quarter, compared to analyst estimates of $599.90 million. During the same quarter last year, the firm earned $1.26 EPS. As a group, analysts expect that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current 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.