Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 168.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 66,235 shares of the construction company’s stock after acquiring an additional 41,582 shares during the period. BNP Paribas Financial Markets owned about 0.22% of Sterling Infrastructure worth $9,605,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STRL. Allspring Global Investments Holdings LLC lifted its position 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 valued at $61,040,000 after acquiring an additional 450,620 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after buying an additional 325,620 shares during the period. F M Investments LLC acquired a new position in shares of Sterling Infrastructure in the second quarter worth $18,379,000. International Assets Investment Management LLC grew its stake in Sterling Infrastructure by 14,112.0% in the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock valued at $20,610,000 after purchasing an additional 141,120 shares in the last quarter. Finally, Congress Asset Management Co. increased its position in Sterling Infrastructure by 19.1% in the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after purchasing an additional 104,096 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the sale, the executive vice president now owns 248,471 shares in the company, valued at $35,677,950.89. The trade was a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Stock Performance

STRL opened at $194.28 on Tuesday. The stock has a 50-day moving average of $167.21 and a 200-day moving average of $135.26. Sterling Infrastructure, Inc. has a 52-week low of $62.66 and a 52-week high of $203.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $5.97 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.29. The business had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same quarter last year, the company posted $1.26 earnings per share. As a group, equities research analysts forecast that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

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.