CWA Asset Management Group LLC Acquires New Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

CWA Asset Management Group LLC acquired a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the third quarter, Holdings Channel.com reports. The fund acquired 7,148 shares of the construction company’s stock, valued at approximately $1,037,000.

Other hedge funds have also added to or reduced their stakes in the company. Inspire Investing LLC bought a new position in Sterling Infrastructure in the first quarter valued at approximately $449,000. Robeco Schweiz AG bought a new position in Sterling Infrastructure in the second quarter valued at approximately $1,420,000. Virtu Financial LLC bought a new position in Sterling Infrastructure in the first quarter valued at approximately $1,138,000. Seven Eight Capital LP bought a new position in Sterling Infrastructure in the first quarter valued at approximately $1,689,000. Finally, Truvestments Capital LLC bought a new position in Sterling Infrastructure in the first quarter valued at approximately $490,000. 80.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock opened at $193.61 on Monday. Sterling Infrastructure, Inc. has a fifty-two week low of $62.13 and a fifty-two week high of $194.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $5.95 billion, a P/E ratio of 32.70, a P/E/G ratio of 2.18 and a beta of 1.15. The company’s 50 day moving average price is $145.40 and its two-hundred day moving average price is $126.62.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 28.35%. The firm had revenue of $593.74 million for the quarter, compared to analyst estimates of $599.90 million. During the same quarter last year, the business posted $1.26 earnings per share. On average, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

Insider Transactions at Sterling Infrastructure

In other 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 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 Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by company insiders.

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.