Stifel Financial Corp Buys 4,359 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Stifel Financial Corp raised its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 22.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,418 shares of the construction company's stock after buying an additional 4,359 shares during the period. Stifel Financial Corp owned about 0.08% of Sterling Infrastructure worth $3,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in Sterling Infrastructure by 691.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company's stock valued at $61,040,000 after purchasing an additional 450,620 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of 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 bought a new stake in Sterling Infrastructure in the 2nd quarter worth approximately $18,379,000. International Assets Investment Management LLC lifted its position in Sterling Infrastructure by 14,112.0% in the 3rd quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company's stock worth $20,610,000 after buying an additional 141,120 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock worth $93,962,000 after buying an additional 104,096 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insider Buying and Selling

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 248,471 shares of the company's stock, valued at $35,677,950.89. This trade represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by insiders.

Sterling Infrastructure Trading Down 2.0 %

NASDAQ STRL traded down $3.53 during trading on Tuesday, hitting $176.59. 526,714 shares of the company's stock traded hands, compared to its average volume of 353,473. The firm has a market cap of $5.42 billion, a P/E ratio of 29.40, a PEG ratio of 2.11 and a beta of 1.22. The stock has a fifty day moving average of $175.78 and a two-hundred day moving average of $139.63. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. Sterling Infrastructure, Inc. has a 12-month low of $69.61 and a 12-month high of $203.49.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its quarterly 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. The business had revenue of $593.74 million for the quarter, compared to analyst estimates of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same period last year, the company earned $1.26 EPS. As a group, sell-side analysts expect that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of 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.