Congress Asset Management Co. Increases Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Congress Asset Management Co. lifted its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRLFree Report) by 19.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 647,924 shares of the construction company’s stock after acquiring an additional 104,096 shares during the period. Congress Asset Management Co. owned 2.10% of Sterling Infrastructure worth $93,962,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new position in Sterling Infrastructure during the third quarter worth $204,000. Diversify Wealth Management LLC boosted its holdings in Sterling Infrastructure by 9.0% during the third quarter. Diversify Wealth Management LLC now owns 4,482 shares of the construction company’s stock worth $704,000 after buying an additional 371 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in Sterling Infrastructure in the third quarter valued at about $307,000. Pallas Capital Advisors LLC acquired a new stake in Sterling Infrastructure in the third quarter valued at $232,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Sterling Infrastructure in the 3rd quarter valued at about $437,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Down 1.0 %

Shares of Sterling Infrastructure stock traded down $1.53 during trading hours on Thursday, hitting $151.94. 57,142 shares of the company’s stock traded hands, compared to its average volume of 347,882. The company has a market cap of $4.67 billion, a PE ratio of 29.46, a PEG ratio of 1.89 and a beta of 1.17. Sterling Infrastructure, Inc. has a twelve month low of $55.45 and a twelve month high of $170.50. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $138.65 and a 200-day simple moving average of $123.18.

Sterling Infrastructure (NASDAQ:STRLGet Free Report) last released its earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.24. The company had revenue of $582.82 million during the quarter, compared to the consensus estimate of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same quarter in the previous year, the firm earned $1.27 EPS. Equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Read Our Latest Analysis on STRL

Sterling Infrastructure Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Sterling Infrastructure (NASDAQ:STRL)

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