Arizona State Retirement System Boosts Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Arizona State Retirement System raised its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 2.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,656 shares of the construction company’s stock after acquiring an additional 181 shares during the period. Arizona State Retirement System’s holdings in Sterling Infrastructure were worth $1,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Sterling Infrastructure by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 367,905 shares of the construction company’s stock worth $32,350,000 after buying an additional 2,878 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Sterling Infrastructure by 29.4% in the 4th quarter. Principal Financial Group Inc. now owns 17,381 shares of the construction company’s stock valued at $1,528,000 after purchasing an additional 3,947 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Sterling Infrastructure during the 4th quarter valued at $255,000. Main Street Financial Solutions LLC raised its position in Sterling Infrastructure by 10.0% in the 4th quarter. Main Street Financial Solutions LLC now owns 10,063 shares of the construction company’s stock worth $885,000 after purchasing an additional 912 shares during the period. Finally, Gladstone Institutional Advisory LLC bought a new stake in Sterling Infrastructure in the fourth quarter worth $331,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock opened at $127.10 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. Sterling Infrastructure, Inc. has a one year low of $55.45 and a one year high of $137.63. The business’s 50 day simple moving average is $113.76 and its two-hundred day simple moving average is $113.23. The stock has a market capitalization of $3.91 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.43 by $0.24. The company had revenue of $582.82 million for 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 period in the previous year, the firm earned $1.27 earnings per share. Analysts forecast that Sterling Infrastructure, Inc. will post 5.66 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Sterling Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th.

Sterling Infrastructure Company 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.