Van ECK Associates Corp Takes Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Van ECK Associates Corp bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 13,857 shares of the construction company’s stock, valued at approximately $1,640,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings 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. Hennessy Advisors Inc. bought a new stake in Sterling Infrastructure in the fourth quarter valued at $32,156,000. Vanguard Group Inc. raised its stake in Sterling Infrastructure by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock worth $165,215,000 after acquiring an additional 156,225 shares in the last quarter. F M Investments LLC bought a new position in shares of Sterling Infrastructure during the second quarter valued at $18,379,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Sterling Infrastructure by 105.1% in the 4th quarter. Teacher Retirement System of Texas now owns 131,069 shares of the construction company’s stock valued at $11,525,000 after purchasing an additional 67,172 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Down 0.1 %

NASDAQ STRL opened at $109.12 on Friday. The stock’s 50 day simple moving average is $113.75 and its 200 day simple moving average is $112.57. Sterling Infrastructure, Inc. has a one year low of $55.45 and a one year high of $137.63. The firm has a market cap of $3.37 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. 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 (NASDAQ:STRL) last announced its 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. The company had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. During the same period last year, the company posted $1.27 earnings per share. As a group, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday.

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.