Van ECK Associates Corp Increases Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Van ECK Associates Corp increased its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 40.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,401 shares of the construction company's stock after buying an additional 5,544 shares during the quarter. Van ECK Associates Corp owned 0.06% of Sterling Infrastructure worth $3,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Sterling Infrastructure by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company's stock valued at $208,242,000 after purchasing an additional 8,851 shares during the period. Congress Asset Management Co. increased its position in Sterling Infrastructure by 19.1% during the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock valued at $93,962,000 after purchasing an additional 104,096 shares during the period. Allspring Global Investments Holdings LLC increased its position in Sterling Infrastructure by 19.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company's stock valued at $89,608,000 after purchasing an additional 102,101 shares during the period. Driehaus Capital Management LLC increased its position in Sterling Infrastructure by 11.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company's stock valued at $63,147,000 after purchasing an additional 54,727 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Sterling Infrastructure by 0.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 207,449 shares of the construction company's stock valued at $24,550,000 after purchasing an additional 1,554 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Up 11.1 %

Shares of STRL stock traded up $19.30 during mid-day trading on Friday, reaching $193.61. 482,787 shares of the company's stock traded hands, compared to its average volume of 351,137. Sterling Infrastructure, Inc. has a 12 month low of $62.13 and a 12 month high of $194.07. The company has a market cap of $5.95 billion, a P/E ratio of 32.70, a P/E/G ratio of 2.07 and a beta of 1.15. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The company's 50-day moving average price is $145.40 and its 200-day moving average price is $126.62.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted 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 28.35%. The business had revenue of $593.74 million for the quarter, compared to analysts' expectations of $599.90 million. During the same quarter in the prior year, the business earned $1.26 EPS. On average, equities analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the sale, the executive vice president now directly owns 248,471 shares of the company's stock, valued at approximately $35,677,950.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research 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.