Congress Asset Management Co. Acquires 104,096 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Congress Asset Management Co. raised its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 19.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 647,924 shares of the construction company's stock after acquiring an additional 104,096 shares during the quarter. Congress Asset Management Co. owned approximately 2.10% of Sterling Infrastructure worth $93,962,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Sterling Infrastructure by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company's stock valued at $165,215,000 after acquiring an additional 156,225 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Sterling Infrastructure during the 1st quarter valued at approximately $202,000. Norden Group LLC acquired a new position in shares of Sterling Infrastructure during the 1st quarter worth approximately $631,000. Principal Financial Group Inc. grew its stake in Sterling Infrastructure by 49.8% in the 1st quarter. Principal Financial Group Inc. now owns 26,038 shares of the construction company's stock worth $2,872,000 after acquiring an additional 8,657 shares during the period. Finally, Hartline Investment Corp purchased a new stake in Sterling Infrastructure in the 1st quarter worth approximately $210,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Sunday, September 15th.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock traded up $0.98 on Thursday, hitting $154.45. The company had a trading volume of 244,433 shares, compared to its average volume of 348,811. Sterling Infrastructure, Inc. has a 52 week low of $55.45 and a 52 week high of $170.50. The company has a market cap of $4.75 billion, a PE ratio of 29.46, a PEG ratio of 1.89 and a beta of 1.17. The business has a 50-day simple moving average of $138.65 and a 200-day simple moving average of $123.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.43 by $0.24. The company had revenue of $582.82 million for the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same quarter in the prior year, the business posted $1.27 EPS. Research analysts expect that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the sale, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by insiders.

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.