Wellington Management Group LLP lessened its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 73.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,726 shares of the construction company’s stock after selling 170,743 shares during the quarter. Wellington Management Group LLP’s holdings in Sterling Infrastructure were worth $4,609,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its holdings in Sterling Infrastructure by 53.5% in the 1st quarter. FMR LLC now owns 674 shares of the construction company’s stock worth $26,000 after purchasing an additional 235 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Sterling Infrastructure by 50.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,274 shares of the construction company’s stock worth $27,000 after purchasing an additional 427 shares during the period. Acadian Asset Management LLC acquired a new position in Sterling Infrastructure in the 1st quarter worth about $38,000. International Assets Investment Management LLC acquired a new position in Sterling Infrastructure in the 3rd quarter worth about $73,000. Finally, Comerica Bank acquired a new position in Sterling Infrastructure in the 3rd quarter worth about $79,000. Institutional investors and hedge funds own 80.95% of the company’s stock.
Sterling Infrastructure Price Performance
Shares of Sterling Infrastructure stock opened at $112.81 on Wednesday. The business has a 50 day simple moving average of $92.16 and a two-hundred day simple moving average of $80.12. Sterling Infrastructure, Inc. has a 12 month low of $34.23 and a 12 month high of $116.36. The stock has a market capitalization of $3.49 billion, a P/E ratio of 25.35, a PEG ratio of 1.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.25.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last announced its earnings results on Monday, February 26th. The construction company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.30. Sterling Infrastructure had a return on equity of 24.75% and a net margin of 7.03%. The business had revenue of $485.98 million during the quarter, compared to analysts’ expectations of $526.90 million. As a group, analysts predict that Sterling Infrastructure, Inc. will post 4.98 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, DA Davidson reissued a “neutral” rating and set a $115.00 target price (up previously from $86.00) on shares of Sterling Infrastructure in a report on Wednesday, February 28th.
Check Out Our Latest Stock Analysis on STRL
Insider Activity at Sterling Infrastructure
In related news, CFO Ronald A. Ballschmiede sold 13,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $109.66, for a total value of $1,425,580.00. Following the completion of the sale, the chief financial officer now owns 270,460 shares of the company’s stock, valued at $29,658,643.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Ronald A. Ballschmiede sold 13,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $109.66, for a total value of $1,425,580.00. Following the completion of the sale, the chief financial officer now owns 270,460 shares of the company’s stock, valued at $29,658,643.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Mark D. Wolf sold 4,134 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $106.22, for a total value of $439,113.48. Following the sale, the general counsel now directly owns 35,048 shares of the company’s stock, valued at approximately $3,722,798.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,850 shares of company stock valued at $10,997,015. 4.20% of the stock is currently owned by insiders.
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.
See Also
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