Meritage Portfolio Management Has $2.19 Million Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Meritage Portfolio Management lessened its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 19.9% during the fourth quarter, HoldingsChannel reports. The firm owned 13,009 shares of the construction company’s stock after selling 3,228 shares during the quarter. Meritage Portfolio Management’s holdings in Sterling Infrastructure were worth $2,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after purchasing an additional 325,620 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Sterling Infrastructure by 14,112.0% in the 3rd quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock worth $20,610,000 after acquiring an additional 141,120 shares in the last quarter. Congress Asset Management Co. increased its position in shares of Sterling Infrastructure by 19.1% during the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after acquiring an additional 104,096 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Sterling Infrastructure by 19.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock valued at $89,608,000 after acquiring an additional 102,101 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Sterling Infrastructure by 58.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company’s stock worth $18,682,000 after acquiring an additional 47,734 shares during the period. 80.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on STRL shares. William Blair initiated coverage on Sterling Infrastructure in a research report on Friday, January 17th. They set an “outperform” rating on the stock. StockNews.com lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Thursday.

Insider Buying and Selling

In other news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the sale, the director now owns 25,901 shares in the company, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.80% of the stock is currently owned by insiders.

Sterling Infrastructure Price Performance

STRL stock opened at $143.48 on Thursday. The firm has a 50-day moving average of $173.97 and a 200 day moving average of $152.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $4.41 billion, a P/E ratio of 24.24, a PEG ratio of 1.47 and a beta of 1.24. Sterling Infrastructure, Inc. has a 1 year low of $74.70 and a 1 year high of $206.07.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. The company had revenue of $593.74 million during the quarter, compared to analyst estimates of $599.90 million. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

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.