Penserra Capital Management LLC Raises Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Penserra Capital Management LLC grew its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 2,534.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,988 shares of the construction company's stock after buying an additional 13,457 shares during the period. Penserra Capital Management LLC's holdings in Sterling Infrastructure were worth $2,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of Sterling Infrastructure during the third quarter valued at approximately $26,000. Hantz Financial Services Inc. purchased a new position in shares of Sterling Infrastructure in the second quarter worth $30,000. Huntington National Bank lifted its holdings in shares of Sterling Infrastructure by 21,300.0% during the third quarter. Huntington National Bank now owns 214 shares of the construction company's stock valued at $31,000 after purchasing an additional 213 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Sterling Infrastructure by 391.1% during the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company's stock valued at $33,000 after buying an additional 219 shares during the last quarter. Finally, Crewe Advisors LLC increased its holdings in Sterling Infrastructure by 85.4% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company's stock worth $35,000 after buying an additional 135 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

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 Stock Performance

NASDAQ:STRL traded up $2.70 on Tuesday, hitting $199.03. The stock had a trading volume of 759,739 shares, compared to its average volume of 352,497. Sterling Infrastructure, Inc. has a 52-week low of $62.13 and a 52-week high of $203.49. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The business's 50-day simple moving average is $161.84 and its two-hundred day simple moving average is $132.95.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (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 company had revenue of $593.74 million during the quarter, compared to analyst estimates of $599.90 million. During the same period in the previous year, the business posted $1.26 earnings per share. As a group, research analysts predict that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the transaction, the executive vice president now directly owns 248,471 shares of the company's stock, valued at approximately $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 accessible through this link. 3.80% of the stock is owned by company insiders.

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.