Victory Capital Management Inc. Boosts Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Victory Capital Management Inc. lifted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 53.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,154 shares of the construction company’s stock after buying an additional 19,127 shares during the quarter. Victory Capital Management Inc. owned approximately 0.18% of Sterling Infrastructure worth $6,527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System increased its holdings in Sterling Infrastructure by 4.3% during the 1st quarter. New York State Teachers Retirement System now owns 2,711 shares of the construction company’s stock valued at $299,000 after acquiring an additional 111 shares in the last quarter. EFG Asset Management North America Corp. increased its stake in shares of Sterling Infrastructure by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company’s stock worth $2,985,000 after purchasing an additional 120 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Sterling Infrastructure by 1.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company’s stock worth $1,539,000 after purchasing an additional 124 shares during the last quarter. Crewe Advisors LLC lifted its stake in 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 buying an additional 135 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Sterling Infrastructure by 14.6% during the 2nd quarter. Blue Trust Inc. now owns 1,069 shares of the construction company’s stock valued at $118,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Sunday.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $127.10 on Monday. The stock has a market capitalization of $3.92 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.38 and a beta of 1.16. Sterling Infrastructure, Inc. has a 12-month low of $55.45 and a 12-month high of $137.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s 50-day moving average is $114.03 and its two-hundred day moving average is $113.59.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. The firm had revenue of $582.82 million for the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same quarter last year, the business earned $1.27 earnings per share. Equities analysts predict that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current year.

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.