Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Bought by Stifel Financial Corp

Stifel Financial Corp raised its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 22.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,418 shares of the construction company’s stock after purchasing an additional 4,359 shares during the period. Stifel Financial Corp owned about 0.08% of Sterling Infrastructure worth $3,396,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quarry LP increased its holdings in Sterling Infrastructure by 510.7% in the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after acquiring an additional 143 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Sterling Infrastructure during the third quarter worth about $404,000. Millburn Ridgefield Corp purchased a new stake in shares of Sterling Infrastructure during the third quarter worth about $127,000. Janus Henderson Group PLC raised its position in shares of Sterling Infrastructure by 2.6% during the 3rd quarter. Janus Henderson Group PLC now owns 53,757 shares of the construction company’s stock worth $7,795,000 after purchasing an additional 1,384 shares during the last quarter. Finally, PDT Partners LLC purchased a new position in Sterling Infrastructure in the 3rd quarter valued at about $1,885,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Down 0.1 %

NASDAQ STRL opened at $180.12 on Tuesday. Sterling Infrastructure, Inc. has a one year low of $69.61 and a one year 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 business has a fifty day moving average price of $175.13 and a 200 day moving average price of $139.24. The company has a market cap of $5.53 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.11 and a beta of 1.22.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.29. The firm 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 period last year, the firm posted $1.26 earnings per share. Research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Insider Activity

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $35,677,950.89. The trade was a 7.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note 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.