2,352 Shares in Sterling Infrastructure, Inc. (NASDAQ:STRL) Acquired by Cim Investment Management Inc.

Cim Investment Management Inc. bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the second quarter, Holdings Channel.com reports. The fund bought 2,352 shares of the construction company’s stock, valued at approximately $278,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Sterling Infrastructure by 29.4% during the fourth quarter. Principal Financial Group Inc. now owns 17,381 shares of the construction company’s stock worth $1,528,000 after buying an additional 3,947 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Sterling Infrastructure by 64.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,673 shares of the construction company’s stock valued at $1,994,000 after acquiring an additional 8,913 shares during the last quarter. First Trust Advisors LP grew its holdings in Sterling Infrastructure by 17.6% during the 4th quarter. First Trust Advisors LP now owns 337,296 shares of the construction company’s stock worth $29,658,000 after acquiring an additional 50,573 shares during the period. BOKF NA raised its position in shares of Sterling Infrastructure by 0.4% in the 4th quarter. BOKF NA now owns 138,109 shares of the construction company’s stock worth $12,144,000 after acquiring an additional 491 shares in the last quarter. Finally, Guardian Wealth Management Inc. lifted its stake in shares of Sterling Infrastructure by 36.1% in the 4th quarter. Guardian Wealth Management Inc. now owns 40,815 shares of the construction company’s stock valued at $3,589,000 after purchasing an additional 10,818 shares during the period. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Down 1.8 %

Sterling Infrastructure stock opened at $143.26 on Friday. 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 company has a market capitalization of $4.42 billion, a PE ratio of 29.78, a PEG ratio of 1.76 and a beta of 1.16. The firm’s fifty day moving average is $118.82 and its 200 day moving average is $115.78. Sterling Infrastructure, Inc. has a 12-month low of $55.45 and a 12-month high of $152.00.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $582.82 million for the quarter, compared to analysts’ expectations of $553.70 million. During the same quarter in the prior year, the firm earned $1.27 EPS. As a group, sell-side analysts predict that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Insider Buying and Selling at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the transaction, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at $35,677,950.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 report on Sunday, September 15th.

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.