Wedbush Securities Inc. Invests $205,000 in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Wedbush Securities Inc. bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the second quarter, Holdings Channel.com reports. The firm bought 1,731 shares of the construction company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STRL. Allspring Global Investments Holdings LLC boosted 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 worth $61,040,000 after buying an additional 450,620 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Sterling Infrastructure in the 4th quarter worth approximately $32,156,000. Vanguard Group Inc. raised its holdings in shares of Sterling Infrastructure by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock worth $165,215,000 after purchasing an additional 156,225 shares during the period. F M Investments LLC bought a new stake in shares of Sterling Infrastructure in the 2nd quarter worth approximately $18,379,000. Finally, Baker Ellis Asset Management LLC bought a new stake in shares of Sterling Infrastructure in the 2nd quarter worth approximately $6,768,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Up 3.2 %

NASDAQ:STRL opened at $127.10 on Monday. The firm’s 50 day moving average is $114.03 and its 200 day moving average is $113.59. 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 $137.63. The stock has a market capitalization of $3.92 billion, a PE ratio of 26.42, 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. The business had revenue of $582.82 million for the quarter, compared to analysts’ expectations of $553.70 million. During the same quarter in the previous year, the firm posted $1.27 EPS. Sell-side analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current year.

Analyst Ratings Changes

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

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.