Citigroup Inc. Buys 23,295 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Citigroup Inc. increased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 183.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,960 shares of the construction company's stock after purchasing an additional 23,295 shares during the period. Citigroup Inc. owned approximately 0.12% of Sterling Infrastructure worth $5,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Sterling Infrastructure during the 3rd quarter worth $26,000. Hantz Financial Services Inc. bought a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at about $30,000. Huntington National Bank lifted its stake in shares of Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company's stock valued at $31,000 after purchasing an additional 213 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Sterling Infrastructure by 391.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company's stock valued at $33,000 after purchasing an additional 219 shares during the period. Finally, Crewe Advisors LLC lifted its stake in shares of Sterling Infrastructure by 85.4% in the 2nd 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 period. 80.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm's stock in a transaction 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 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. This trade represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Stock Up 0.6 %

STRL stock traded up $1.26 during trading on Tuesday, reaching $195.54. 305,929 shares of the stock were exchanged, compared to its average volume of 353,676. The firm's 50 day moving average is $167.21 and its 200 day moving average is $135.26. Sterling Infrastructure, Inc. has a twelve month low of $62.66 and a twelve month high of $203.49. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm has a market cap of $6.01 billion, a P/E ratio of 33.03, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.68 by $0.29. The firm had revenue of $593.74 million during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $1.26 earnings per share. As a group, research analysts forecast that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Analyst Ratings Changes

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

Sterling Infrastructure Company 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.