Wedbush Securities Inc. Buys New Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Wedbush Securities Inc. bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,731 shares of the construction company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its position in Sterling Infrastructure by 33.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 18,466 shares of the construction company’s stock valued at $2,185,000 after buying an additional 4,679 shares in the last quarter. Arizona State Retirement System increased its position in Sterling Infrastructure by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 8,656 shares of the construction company’s stock valued at $1,024,000 after buying an additional 181 shares in the last quarter. Victory Capital Management Inc. increased its position in Sterling Infrastructure by 53.1% in the 2nd quarter. Victory Capital Management Inc. now owns 55,154 shares of the construction company’s stock valued at $6,527,000 after buying an additional 19,127 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in Sterling Infrastructure in the 2nd quarter valued at about $5,503,000. Finally, Paragon Financial Partners Inc. acquired a new position in Sterling Infrastructure during the 2nd quarter valued at about $207,000. 80.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Price Performance

STRL stock opened at $127.10 on Monday. The company has a market capitalization of $3.92 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24. Sterling Infrastructure, Inc. has a 52-week low of $55.45 and a 52-week high of $137.63. The business has a 50-day simple moving average of $114.03 and a two-hundred day simple moving average of $113.59.

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