Ausbil Investment Management Ltd Sells 20,648 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Ausbil Investment Management Ltd cut its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 71.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,192 shares of the construction company's stock after selling 20,648 shares during the quarter. Ausbil Investment Management Ltd's holdings in Sterling Infrastructure were worth $1,454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased 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 during the last quarter. International Assets Investment Management LLC increased its stake in shares of Sterling Infrastructure by 14,112.0% in the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company's stock worth $20,610,000 after buying an additional 141,120 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of Sterling Infrastructure by 19.1% in the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock valued at $93,962,000 after purchasing an additional 104,096 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Sterling Infrastructure by 19.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company's stock worth $89,608,000 after acquiring an additional 102,101 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Sterling Infrastructure by 58.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company's stock worth $18,682,000 after buying an additional 47,734 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STRL. StockNews.com raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. William Blair began coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They issued an "outperform" rating for the company.

Sterling Infrastructure Stock Up 1.0 %

Shares of NASDAQ:STRL traded up $1.35 on Tuesday, reaching $138.36. The company had a trading volume of 317,986 shares, compared to its average volume of 478,990. Sterling Infrastructure, Inc. has a twelve month low of $74.70 and a twelve month high of $206.07. The stock has a 50-day moving average price of $177.41 and a 200 day moving average price of $152.46. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $4.25 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.47 and a beta of 1.24.

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

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dana C. O'brien sold 2,000 shares of the business's stock in a transaction 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 transaction, the director now owns 25,901 shares of the company's stock, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.80% of the company's stock.

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.