Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 1,088.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,546 shares of the construction company's stock after purchasing an additional 325,620 shares during the period. Principal Financial Group Inc. owned 1.16% of Sterling Infrastructure worth $51,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of STRL. Geode Capital Management LLC increased its stake 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 worth $104,431,000 after acquiring an additional 3,918 shares during the period. State Street Corp grew its position in Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company's stock worth $103,433,000 after purchasing an additional 5,106 shares during the period. Congress Asset Management Co. raised its stake 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 valued at $93,962,000 after buying an additional 104,096 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake 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 valued at $89,608,000 after buying an additional 102,101 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Sterling Infrastructure by 11.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company's stock valued at $63,147,000 after buying an additional 54,727 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insider Transactions at Sterling Infrastructure

In related news, Director Dana C. O'brien sold 2,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the transaction, the director now owns 25,901 shares in the company, valued at $4,555,726.89. This represents 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. Corporate insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

Sterling Infrastructure Stock Performance

NASDAQ STRL traded down $0.29 during mid-day trading on Monday, reaching $174.91. 258,099 shares of the stock were exchanged, compared to its average volume of 356,718. The company has a market capitalization of $5.37 billion, a P/E ratio of 29.55, a P/E/G ratio of 2.11 and a beta of 1.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The business's 50 day moving average is $177.60 and its 200-day moving average is $141.63. Sterling Infrastructure, Inc. has a 1 year low of $69.61 and a 1 year high of $203.49.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $1.26 EPS. On average, equities research analysts forecast that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal 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.