The Manufacturers Life Insurance Company Decreases Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

The Manufacturers Life Insurance Company lessened its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 10.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,668 shares of the construction company’s stock after selling 7,047 shares during the quarter. The Manufacturers Life Insurance Company owned 0.19% of Sterling Infrastructure worth $6,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Sterling Infrastructure by 60.6% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 53,000 shares of the construction company’s stock valued at $4,660,000 after buying an additional 20,000 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Sterling Infrastructure by 47.1% in the 1st quarter. Nordea Investment Management AB now owns 50,420 shares of the construction company’s stock worth $5,651,000 after acquiring an additional 16,142 shares during the period. Inspire Investing LLC purchased a new position in Sterling Infrastructure in the 1st quarter valued at approximately $449,000. Principal Financial Group Inc. raised its holdings in Sterling Infrastructure by 49.8% during the first quarter. Principal Financial Group Inc. now owns 26,038 shares of the construction company’s stock worth $2,872,000 after purchasing an additional 8,657 shares during the last quarter. Finally, Robeco Schweiz AG purchased a new stake in Sterling Infrastructure during the second quarter worth $1,420,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Sunday, September 15th.

Sterling Infrastructure Stock Up 2.2 %

Shares of NASDAQ STRL opened at $148.05 on Friday. The firm’s 50-day moving average is $121.67 and its two-hundred day moving average is $117.11. The company has a market capitalization of $4.57 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17. Sterling Infrastructure, Inc. has a 12-month low of $55.45 and a 12-month high of $152.00. 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 posted its 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 firm had revenue of $582.82 million for 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 quarter in the prior year, the company earned $1.27 EPS. Equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Insider Activity at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the sale, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

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.