Perpetual Ltd Sells 619 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Perpetual Ltd lowered its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,891 shares of the construction company’s stock after selling 619 shares during the period. Perpetual Ltd’s holdings in Sterling Infrastructure were worth $429,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of STRL. HighTower Advisors LLC bought a new stake in Sterling Infrastructure during the third quarter worth about $587,000. UBS Group AG boosted its stake in Sterling Infrastructure by 18.0% during the third quarter. UBS Group AG now owns 40,021 shares of the construction company’s stock worth $2,941,000 after acquiring an additional 6,099 shares in the last quarter. Rhumbline Advisers raised its holdings in Sterling Infrastructure by 5.2% in the third quarter. Rhumbline Advisers now owns 47,250 shares of the construction company’s stock worth $3,472,000 after buying an additional 2,340 shares during the last quarter. Aviva PLC purchased a new position in Sterling Infrastructure in the third quarter worth about $578,000. Finally, FMR LLC raised its holdings in Sterling Infrastructure by 45.0% in the third quarter. FMR LLC now owns 847,335 shares of the construction company’s stock worth $62,262,000 after buying an additional 263,046 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson reaffirmed a “neutral” rating and issued a $115.00 target price (up from $86.00) on shares of Sterling Infrastructure in a report on Wednesday, February 28th.

Insider Activity

In other news, CFO Ronald A. Ballschmiede sold 3,289 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $113.52, for a total transaction of $373,367.28. Following the completion of the transaction, the chief financial officer now directly owns 267,171 shares of the company’s stock, valued at $30,329,251.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sterling Infrastructure news, CFO Ronald A. Ballschmiede sold 3,289 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $113.52, for a total transaction of $373,367.28. Following the completion of the sale, the chief financial officer now directly owns 267,171 shares of the company’s stock, valued at $30,329,251.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph A. Cutillo sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $109.78, for a total transaction of $2,195,600.00. Following the sale, the chief executive officer now directly owns 448,133 shares of the company’s stock, valued at $49,196,040.74. The disclosure for this sale can be found here. Insiders sold 101,611 shares of company stock valued at $11,395,672 over the last three months. Insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Down 1.3 %

Shares of Sterling Infrastructure stock opened at $116.22 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $3.59 billion, a PE ratio of 24.16 and a beta of 1.21. Sterling Infrastructure, Inc. has a 52-week low of $51.02 and a 52-week high of $137.63. The company has a 50-day simple moving average of $115.63 and a two-hundred day simple moving average of $98.86.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, May 6th. The construction company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.18. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. The firm had revenue of $440.36 million during the quarter, compared to analysts’ expectations of $453.30 million. On average, analysts anticipate that Sterling Infrastructure, Inc. will post 5.3 EPS for the current fiscal year.

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.