Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 65.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,789 shares of the construction company’s stock after purchasing an additional 1,492 shares during the period. Commonwealth Equity Services LLC’s holdings in Sterling Infrastructure were worth $448,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake 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 worth $4,660,000 after acquiring an additional 20,000 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Sterling Infrastructure by 47.1% during the 1st quarter. Nordea Investment Management AB now owns 50,420 shares of the construction company’s stock worth $5,651,000 after buying an additional 16,142 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Sterling Infrastructure during the 1st quarter worth approximately $449,000. Principal Financial Group Inc. lifted its position in shares of Sterling Infrastructure by 49.8% during the 1st quarter. Principal Financial Group Inc. now owns 26,038 shares of the construction company’s stock worth $2,872,000 after buying an additional 8,657 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its position in shares of Sterling Infrastructure by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock worth $48,558,000 after buying an additional 74,500 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

NASDAQ:STRL opened at $148.16 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. Sterling Infrastructure, Inc. has a fifty-two week low of $55.45 and a fifty-two week high of $152.00. The stock has a market cap of $4.57 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The firm’s fifty day simple moving average is $116.28 and its 200-day simple moving average is $114.56.

Sterling Infrastructure (NASDAQ:STRL) last released 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 company 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 period in the prior year, the firm earned $1.27 EPS. Analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Sterling Infrastructure 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.