Kornitzer Capital Management Inc. KS Raises Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Kornitzer Capital Management Inc. KS increased its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 28.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 59,620 shares of the construction company's stock after acquiring an additional 13,115 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.19% of Sterling Infrastructure worth $8,646,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in STRL. Vanguard Group Inc. raised its stake in shares of Sterling Infrastructure by 0.5% in the first quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company's stock valued at $208,242,000 after acquiring an additional 8,851 shares in the last quarter. Congress Asset Management Co. raised its stake in shares of Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock valued at $93,962,000 after acquiring an additional 104,096 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Sterling Infrastructure by 19.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company's stock valued at $89,608,000 after acquiring an additional 102,101 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of Sterling Infrastructure by 11.4% in the second quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company's stock valued at $63,147,000 after acquiring an additional 54,727 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock valued at $51,561,000 after acquiring an additional 325,620 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure 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 sale, the executive vice president now directly owns 248,471 shares in the company, valued at $35,677,950.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by insiders.

Sterling Infrastructure Stock Up 11.1 %

Shares of NASDAQ STRL traded up $19.30 during mid-day trading on Friday, hitting $193.61. The company had a trading volume of 482,621 shares, compared to its average volume of 351,137. The company has a market capitalization of $5.95 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 1.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. Sterling Infrastructure, Inc. has a 1-year low of $62.13 and a 1-year high of $194.07. The business's 50-day simple moving average is $143.92 and its 200 day simple moving average is $125.60.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. The company had revenue of $582.82 million for the quarter, compared to analysts' expectations of $553.70 million. During the same period last year, the firm earned $1.27 earnings per share. On average, analysts predict that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut 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.