Algert Global LLC raised its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 34.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 26,141 shares of the construction company's stock after purchasing an additional 6,630 shares during the period. Algert Global LLC owned 0.09% of Sterling Infrastructure worth $3,791,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Cerity Partners LLC increased its holdings in Sterling Infrastructure by 62.2% in the third quarter. Cerity Partners LLC now owns 5,184 shares of the construction company's stock valued at $752,000 after buying an additional 1,988 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Sterling Infrastructure by 183.9% in the 3rd quarter. Citigroup Inc. now owns 35,960 shares of the construction company's stock valued at $5,215,000 after acquiring an additional 23,295 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Sterling Infrastructure in the 3rd quarter valued at approximately $1,513,000. Advisors Asset Management Inc. raised its position in shares of Sterling Infrastructure by 2.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 50,934 shares of the construction company's stock valued at $7,386,000 after acquiring an additional 991 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Sterling Infrastructure by 9.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,711 shares of the construction company's stock worth $17,796,000 after purchasing an additional 10,097 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.
Sterling Infrastructure Stock Performance
STRL stock traded up $2.97 during midday trading on Tuesday, reaching $199.30. The company had a trading volume of 439,452 shares, compared to its average volume of 350,934. The firm has a market capitalization of $6.12 billion, a PE ratio of 33.16, a P/E/G ratio of 2.20 and a beta of 1.15. The stock has a 50 day moving average price of $161.84 and a 200 day moving average price of $132.95. Sterling Infrastructure, Inc. has a fifty-two week low of $62.13 and a fifty-two week high of $203.49. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.
Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.29. The firm had revenue of $593.74 million for the quarter, compared to analyst estimates of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same period last year, the company earned $1.26 earnings per share. Analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.
Insider Buying and Selling at Sterling Infrastructure
In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the sale, the executive vice president now directly owns 248,471 shares of the company's stock, valued at $35,677,950.89. The trade was a 7.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.80% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Sunday, September 15th.
Check Out Our Latest Research Report on Sterling Infrastructure
Sterling Infrastructure Profile
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Free Report)
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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