Thurston Springer Miller Herd & Titak Inc. Makes New $44,000 Investment in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 302 shares of the construction company’s stock, valued at approximately $44,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STRL. Allspring Global Investments Holdings LLC boosted its position in Sterling Infrastructure by 691.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock worth $61,040,000 after purchasing an additional 450,620 shares during the period. Vanguard Group Inc. boosted its position in shares of Sterling Infrastructure by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock valued at $165,215,000 after acquiring an additional 156,225 shares during the period. F M Investments LLC bought a new position in shares of Sterling Infrastructure in the second quarter valued at approximately $18,379,000. Hennessy Advisors Inc. boosted its position in shares of Sterling Infrastructure by 20.4% in the first quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock valued at $48,558,000 after acquiring an additional 74,500 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Sterling Infrastructure by 190.0% in the second quarter. Sei Investments Co. now owns 89,573 shares of the construction company’s stock valued at $10,600,000 after acquiring an additional 58,682 shares during the period. Institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered 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 stock opened at $156.11 on Wednesday. The firm has a 50 day moving average of $128.02 and a 200-day moving average of $119.28. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44. Sterling Infrastructure, Inc. has a 12 month low of $55.45 and a 12 month high of $160.57. The firm has a market capitalization of $4.82 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. The business 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 last year, the firm posted $1.27 earnings per share. As a group, sell-side analysts predict that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Insider Activity at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the sale, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at $35,677,950.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by insiders.

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.