Advisors Asset Management Inc. Has $7.39 Million Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Advisors Asset Management Inc. boosted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 2.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,934 shares of the construction company’s stock after purchasing an additional 991 shares during the quarter. Advisors Asset Management Inc.’s holdings in Sterling Infrastructure were worth $7,386,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in STRL. Allspring Global Investments Holdings LLC lifted its stake in shares of Sterling Infrastructure by 691.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock valued at $61,040,000 after purchasing an additional 450,620 shares during the period. Principal Financial Group Inc. increased its position in shares of Sterling Infrastructure by 1,088.1% in the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after buying an additional 325,620 shares in the last quarter. F M Investments LLC bought a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at $18,379,000. International Assets Investment Management LLC increased its position in shares of Sterling Infrastructure by 14,112.0% in the 3rd quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock valued at $20,610,000 after buying an additional 141,120 shares in the last quarter. Finally, Congress Asset Management Co. increased its position in shares of Sterling Infrastructure by 19.1% in the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after buying an additional 104,096 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Analyst Ratings Changes

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

Sterling Infrastructure Price Performance

STRL opened at $189.43 on Thursday. 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, Inc. has a 12 month low of $62.13 and a 12 month high of $201.27. The company has a fifty day simple moving average of $156.17 and a 200 day simple moving average of $130.82. The stock has a market cap of $5.82 billion, a P/E ratio of 32.00, a P/E/G ratio of 2.01 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.29. The firm had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same quarter in the prior year, the company earned $1.26 EPS. On average, research analysts expect that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Insiders Place Their Bets

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction dated Thursday, September 19th. The stock was 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. This represents a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

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.