Bleakley Financial Group LLC Takes $858,000 Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Bleakley Financial Group LLC acquired a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,915 shares of the construction company’s stock, valued at approximately $858,000.

A number of other large investors also recently modified their holdings of STRL. Allspring Global Investments Holdings LLC lifted its stake in shares of Sterling Infrastructure by 691.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock worth $61,040,000 after acquiring an additional 450,620 shares during the period. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 156,225 shares during the period. F M Investments LLC purchased a new position in shares of Sterling Infrastructure during the 2nd quarter valued at $18,379,000. Hennessy Advisors Inc. increased its position in Sterling Infrastructure by 20.4% in the 1st quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock worth $48,558,000 after purchasing an additional 74,500 shares during the last quarter. Finally, Sei Investments Co. raised its position in Sterling Infrastructure by 190.0% during the second quarter. Sei Investments Co. now owns 89,573 shares of the construction company’s stock valued at $10,600,000 after acquiring an additional 58,682 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Sterling Infrastructure Price Performance

Shares of STRL stock opened at $159.84 on Monday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 1.82 and a beta of 1.17. The stock’s fifty day simple moving average is $131.52 and its 200 day simple moving average is $120.46. Sterling Infrastructure, Inc. has a one year low of $55.45 and a one year high of $170.50. 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 quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. The business had revenue of $582.82 million for the quarter, compared to analysts’ expectations of $553.70 million. During the same quarter last year, the business earned $1.27 earnings per share. On average, analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the transaction, the executive vice president now owns 248,471 shares in the company, valued at $35,677,950.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by corporate insiders.

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.