Principal Financial Group Inc. Has $51.56 Million Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Principal Financial Group Inc. boosted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 1,088.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 355,546 shares of the construction company's stock after buying an additional 325,620 shares during the quarter. Principal Financial Group Inc. owned approximately 1.16% of Sterling Infrastructure worth $51,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in shares of Sterling Infrastructure during the 2nd quarter valued at about $30,000. Nisa Investment Advisors LLC raised its position in Sterling Infrastructure by 391.1% in the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company's stock worth $33,000 after acquiring an additional 219 shares in the last quarter. Crewe Advisors LLC lifted its stake in Sterling Infrastructure by 85.4% during the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company's stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Sterling Infrastructure during the 2nd quarter worth $38,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Sterling Infrastructure during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Trading Up 0.6 %

Shares of STRL stock traded up $1.09 during trading hours on Monday, reaching $194.70. 413,162 shares of the stock traded hands, compared to its average volume of 351,422. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $5.98 billion, a PE ratio of 32.89, a PEG ratio of 2.18 and a beta of 1.15. Sterling Infrastructure, Inc. has a 1-year low of $62.13 and a 1-year high of $201.27. The business has a fifty day moving average price of $145.40 and a 200 day moving average price of $126.62.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last released its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 28.35% and a net margin of 8.77%. The company had revenue of $593.74 million during the quarter, compared to analyst estimates of $599.90 million. During the same quarter in the prior year, the company earned $1.26 earnings per share. On average, equities research analysts forecast that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Insider Activity

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.