Congress Asset Management Co. MA Raises Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Congress Asset Management Co. MA grew its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 2.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 557,659 shares of the construction company’s stock after buying an additional 10,935 shares during the period. Congress Asset Management Co. MA owned approximately 1.80% of Sterling Infrastructure worth $61,515,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC raised its holdings in Sterling Infrastructure by 60.4% in the first quarter. Los Angeles Capital Management LLC now owns 13,787 shares of the construction company’s stock worth $1,521,000 after buying an additional 5,193 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Sterling Infrastructure by 60.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 53,000 shares of the construction company’s stock valued at $4,660,000 after purchasing an additional 20,000 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Sterling Infrastructure during the fourth quarter valued at approximately $32,156,000. Vanguard Group Inc. raised its holdings in shares of Sterling Infrastructure by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock valued at $165,215,000 after purchasing an additional 156,225 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Sterling Infrastructure by 24.7% during the fourth quarter. Wellington Management Group LLP now owns 78,236 shares of the construction company’s stock valued at $6,879,000 after purchasing an additional 15,510 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a “neutral” rating and set a $115.00 price objective (up from $86.00) on shares of Sterling Infrastructure in a report on Wednesday, February 28th.

Insider Activity at Sterling Infrastructure

In related news, CFO Ronald A. Ballschmiede sold 3,289 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $113.52, for a total transaction of $373,367.28. Following the completion of the sale, the chief financial officer now directly owns 267,171 shares in the company, valued at $30,329,251.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Sterling Infrastructure news, CFO Ronald A. Ballschmiede sold 3,289 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $113.52, for a total value of $373,367.28. Following the completion of the transaction, the chief financial officer now directly owns 267,171 shares in the company, valued at $30,329,251.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph A. Cutillo sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $112.59, for a total transaction of $4,503,600.00. Following the completion of the transaction, the chief executive officer now owns 566,455 shares of the company’s stock, valued at $63,777,168.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,611 shares of company stock worth $11,395,672. 3.70% of the stock is owned by company insiders.

Sterling Infrastructure Stock Performance

Shares of STRL traded down $1.53 during mid-day trading on Friday, hitting $116.22. 500,603 shares of the company traded hands, compared to its average volume of 286,660. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50-day moving average price of $115.63 and a two-hundred day moving average price of $99.10. Sterling Infrastructure, Inc. has a 1 year low of $51.02 and a 1 year high of $137.63. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 24.16 and a beta of 1.21.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, May 6th. The construction company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.18. The company had revenue of $440.36 million during the quarter, compared to analyst estimates of $453.30 million. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. Equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.3 earnings per share for the current year.

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.