State Street Corp Raises Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

State Street Corp lifted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 713,234 shares of the construction company's stock after buying an additional 5,106 shares during the period. State Street Corp owned approximately 2.32% of Sterling Infrastructure worth $103,433,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of STRL. Allspring Global Investments Holdings LLC grew its holdings in Sterling Infrastructure by 691.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company's stock worth $61,040,000 after purchasing an additional 450,620 shares during the last quarter. Principal Financial Group Inc. increased its position in Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock valued at $51,561,000 after buying an additional 325,620 shares in the last quarter. F M Investments LLC purchased a new stake in Sterling Infrastructure in the second quarter valued at about $18,379,000. International Assets Investment Management LLC boosted its holdings in 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 acquiring an additional 141,120 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in shares of 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 acquiring an additional 104,096 shares during the last quarter. Institutional investors own 80.95% of the company's stock.

Insider Buying and Selling at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure 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 transaction, the executive vice president now directly owns 248,471 shares of the company's stock, valued at $35,677,950.89. The trade was a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company's stock.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL traded down $0.17 during mid-day trading on Monday, hitting $180.12. The stock had a trading volume of 422,174 shares, compared to its average volume of 352,757. The firm has a market cap of $5.53 billion, a PE ratio of 30.43, a PEG 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 company has a 50 day moving average of $175.13 and a two-hundred day moving average of $139.24. Sterling Infrastructure, Inc. has a twelve month low of $69.61 and a twelve month high of $203.49.

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 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 during the quarter, compared to analysts' expectations of $599.90 million. During the same period in the previous year, the business posted $1.26 EPS. Research analysts predict that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.