Dakota Wealth Management Cuts Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Dakota Wealth Management lessened its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 14.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,789 shares of the construction company’s stock after selling 313 shares during the quarter. Dakota Wealth Management’s holdings in Sterling Infrastructure were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of STRL. State Street Corp raised its holdings in Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after buying an additional 5,106 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Sterling Infrastructure by 1,088.1% during the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after acquiring an additional 325,620 shares in the last quarter. Algert Global LLC raised its holdings in Sterling Infrastructure by 34.0% in the 3rd quarter. Algert Global LLC now owns 26,141 shares of the construction company’s stock worth $3,791,000 after acquiring an additional 6,630 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Sterling Infrastructure in the 3rd quarter valued at approximately $591,000. Finally, Stifel Financial Corp boosted its stake in Sterling Infrastructure by 22.9% during the 3rd quarter. Stifel Financial Corp now owns 23,418 shares of the construction company’s stock valued at $3,396,000 after purchasing an additional 4,359 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now directly owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $187.30 on Friday. The firm’s 50-day moving average price is $182.39 and its 200-day moving average price is $151.46. Sterling Infrastructure, Inc. has a 52-week low of $72.56 and a 52-week high of $206.07. The company has a market cap of $5.75 billion, a PE ratio of 31.64, a PEG ratio of 2.07 and a beta of 1.26. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results 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 company had revenue of $593.74 million for the quarter, compared to analysts’ expectations 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, analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, William Blair initiated coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating for the company.

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.