Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 19.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 617,901 shares of the construction company’s stock after purchasing an additional 102,101 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.00% of Sterling Infrastructure worth $89,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new position in Sterling Infrastructure during the second quarter worth about $30,000. Nisa Investment Advisors LLC increased its holdings in Sterling Infrastructure by 391.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after purchasing an additional 219 shares during the last quarter. Crewe Advisors LLC raised its position in Sterling Infrastructure by 85.4% in the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. Family Firm Inc. acquired a new position in Sterling Infrastructure during the second quarter worth $38,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure during the second quarter worth $40,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business’s 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 completion of the transaction, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Sterling Infrastructure Trading Down 3.4 %

NASDAQ STRL opened at $159.84 on Monday. The firm has a 50 day simple moving average of $131.52 and a 200-day simple moving average of $120.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 1.82 and a beta of 1.17. Sterling Infrastructure, Inc. has a one year low of $55.45 and a one year high of $170.50.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.24. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. The firm had revenue of $582.82 million for the quarter, compared to analysts’ expectations of $553.70 million. During the same quarter last year, the company earned $1.27 earnings per share. Equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Sterling Infrastructure

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.