Principal Financial Group Inc. Has $2.87 Million Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Principal Financial Group Inc. boosted its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 49.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,038 shares of the construction company’s stock after acquiring an additional 8,657 shares during the quarter. Principal Financial Group Inc. owned 0.08% of Sterling Infrastructure worth $2,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Hennessy Advisors Inc. purchased a new position in Sterling Infrastructure in the fourth quarter valued at about $32,156,000. Vanguard Group Inc. lifted its position in shares of Sterling Infrastructure by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock worth $165,215,000 after purchasing an additional 156,225 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Sterling Infrastructure by 8,693.0% in the 4th quarter. International Assets Investment Management LLC now owns 87,930 shares of the construction company’s stock valued at $7,732,000 after buying an additional 86,930 shares during the last quarter. Teacher Retirement System of Texas increased its position in Sterling Infrastructure by 105.1% in the 4th quarter. Teacher Retirement System of Texas now owns 131,069 shares of the construction company’s stock worth $11,525,000 after buying an additional 67,172 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Sterling Infrastructure by 27.6% during the third quarter. American Century Companies Inc. now owns 304,148 shares of the construction company’s stock worth $22,349,000 after buying an additional 65,737 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock traded down $2.69 during midday trading on Friday, hitting $113.84. The company had a trading volume of 40,986 shares, compared to its average volume of 362,854. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $3.51 billion, a PE ratio of 23.96 and a beta of 1.19. The business’s 50 day simple moving average is $118.70 and its two-hundred day simple moving average is $101.68. Sterling Infrastructure, Inc. has a 1-year low of $54.84 and a 1-year high of $137.63.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Monday, May 6th. The construction company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.18. The firm had revenue of $440.36 million for the quarter, compared to analyst estimates of $453.30 million. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. As a group, equities analysts predict that Sterling Infrastructure, Inc. will post 5.3 EPS for the current fiscal year.

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.