Versor Investments LP lessened its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 79.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,629 shares of the construction company’s stock after selling 10,203 shares during the period. Versor Investments LP’s holdings in Sterling Infrastructure were worth $231,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new position in Sterling Infrastructure during the 4th quarter worth $3,030,000. Graham Capital Management L.P. bought a new position in shares of Sterling Infrastructure in the 3rd quarter valued at $782,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Sterling Infrastructure by 248.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,332 shares of the construction company’s stock valued at $2,579,000 after purchasing an additional 20,905 shares during the last quarter. Legacy Bridge LLC bought a new position in shares of Sterling Infrastructure in the 4th quarter valued at $1,541,000. Finally, Knights of Columbus Asset Advisors LLC increased its stake in shares of Sterling Infrastructure by 44.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 54,220 shares of the construction company’s stock valued at $4,768,000 after purchasing an additional 16,556 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.
Analysts Set New Price Targets
Separately, DA Davidson reiterated a “neutral” rating and issued a $115.00 price target (up previously from $86.00) on shares of Sterling Infrastructure in a research note on Wednesday, February 28th.
Check Out Our Latest Research Report on STRL
Insider Activity at Sterling Infrastructure
In related news, CEO Joseph A. Cutillo sold 40,713 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $111.74, for a total transaction of $4,549,270.62. Following the sale, the chief executive officer now owns 606,455 shares of the company’s stock, valued at approximately $67,765,281.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 40,713 shares of Sterling Infrastructure stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $111.74, for a total transaction of $4,549,270.62. Following the transaction, the chief executive officer now directly owns 606,455 shares of the company’s stock, valued at approximately $67,765,281.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark D. Wolf sold 1,500 shares of Sterling Infrastructure stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $110.90, for a total value of $166,350.00. Following the transaction, the general counsel now directly owns 29,548 shares in the company, valued at $3,276,873.20. The disclosure for this sale can be found here. Insiders have sold a total of 198,172 shares of company stock valued at $22,019,320 in the last 90 days. 3.80% of the stock is owned by corporate insiders.
Sterling Infrastructure Trading Up 6.5 %
Shares of STRL opened at $135.55 on Thursday. Sterling Infrastructure, Inc. has a 52-week low of $42.16 and a 52-week high of $136.10. The business’s fifty day moving average is $108.89 and its 200-day moving average is $88.88. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.21 and a beta of 1.21.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last released its quarterly earnings data on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.30. Sterling Infrastructure had a return on equity of 25.06% and a net margin of 7.47%. The company had revenue of $485.98 million for the quarter, compared to the consensus estimate of $526.90 million. Equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.3 EPS for the current fiscal year.
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.
Further Reading
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