Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Purchased by Perpetual Ltd

Perpetual Ltd grew its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 31.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,375 shares of the construction company’s stock after purchasing an additional 1,054 shares during the quarter. Perpetual Ltd’s holdings in Sterling Infrastructure were worth $737,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in Sterling Infrastructure by 0.7% during the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after acquiring an additional 5,106 shares during the period. Principal Financial Group Inc. grew its stake 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 worth $51,561,000 after purchasing an additional 325,620 shares during the last quarter. Algert Global LLC raised its holdings in shares of 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 purchasing an additional 6,630 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Sterling Infrastructure during the third quarter valued at approximately $591,000. Finally, Stifel Financial Corp boosted its holdings in Sterling Infrastructure by 22.9% during the third quarter. Stifel Financial Corp now owns 23,418 shares of the construction company’s stock worth $3,396,000 after buying an additional 4,359 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Insider Activity

In other news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the transaction, the director now owns 25,901 shares in the company, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Trading Up 2.0 %

NASDAQ:STRL opened at $200.56 on Thursday. The stock has a fifty day simple moving average of $181.96 and a 200 day simple moving average of $150.35. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26. Sterling Infrastructure, Inc. has a 1-year low of $69.61 and a 1-year high of $206.07. 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 released its 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 business 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. Sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

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.