Sterling Infrastructure, Inc. (NASDAQ:STRL) Stock Holdings Lessened by Meritage Portfolio Management

Meritage Portfolio Management lessened its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,009 shares of the construction company's stock after selling 3,228 shares during the quarter. Meritage Portfolio Management's holdings in Sterling Infrastructure were worth $2,191,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of STRL. Geode Capital Management LLC grew its position in shares of Sterling Infrastructure by 0.5% in the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company's stock valued at $104,431,000 after purchasing an additional 3,918 shares during the period. State Street Corp grew its holdings in Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company's stock valued at $103,433,000 after purchasing an additional 5,106 shares during the period. Congress Asset Management Co. increased its position in Sterling Infrastructure by 19.1% during the third 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 during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Sterling Infrastructure by 19.8% during the third 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 during the period. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Sterling Infrastructure by 4.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company's stock valued at $55,248,000 after purchasing an additional 17,863 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 2,000 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STRL. StockNews.com cut Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Thursday. William Blair assumed coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They set an "outperform" rating for the company.

Sterling Infrastructure Stock Up 3.4 %

NASDAQ:STRL traded up $4.87 during mid-day trading on Thursday, hitting $148.35. The company had a trading volume of 392,960 shares, compared to its average volume of 478,482. Sterling Infrastructure, Inc. has a 1 year low of $76.01 and a 1 year high of $206.07. The business has a fifty day simple moving average of $173.97 and a 200-day simple moving average of $152.70. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.47 and a beta of 1.24.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 8.77% and a return on equity of 27.52%. During the same quarter in the previous year, the business posted $1.26 EPS. Equities analysts forecast that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure 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.