Bank of New York Mellon Corp decreased its position in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,717 shares of the construction company’s stock after selling 5,549 shares during the period. Bank of New York Mellon Corp owned about 0.55% of Sterling Infrastructure worth $6,429,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of STRL. West Oak Capital LLC lifted its position in shares of Sterling Infrastructure by 26.1% during the 1st quarter. West Oak Capital LLC now owns 1,450 shares of the construction company’s stock valued at $55,000 after buying an additional 300 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Sterling Infrastructure during the first quarter valued at about $38,000. Ausbil Investment Management Ltd boosted its position in Sterling Infrastructure by 37.8% during the first quarter. Ausbil Investment Management Ltd now owns 37,171 shares of the construction company’s stock worth $1,408,000 after purchasing an additional 10,201 shares during the period. Castleark Management LLC increased its stake in shares of Sterling Infrastructure by 1.8% in the fourth quarter. Castleark Management LLC now owns 113,244 shares of the construction company’s stock worth $3,714,000 after purchasing an additional 2,050 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Sterling Infrastructure in the fourth quarter valued at approximately $237,000. 80.89% of the stock is owned by institutional investors.
Insider Buying and Selling at Sterling Infrastructure
In other news, General Counsel Mark D. Wolf sold 2,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $53.41, for a total value of $106,820.00. Following the transaction, the general counsel now owns 32,439 shares of the company’s stock, valued at $1,732,566.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, General Counsel Mark D. Wolf sold 2,000 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $53.41, for a total transaction of $106,820.00. Following the completion of the transaction, the general counsel now owns 32,439 shares of the company’s stock, valued at $1,732,566.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald A. Ballschmiede sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $52.07, for a total transaction of $5,207,000.00. Following the completion of the sale, the chief financial officer now directly owns 272,023 shares in the company, valued at $14,164,237.61. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Sterling Infrastructure Stock Up 0.4 %
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The construction company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.34. The company had revenue of $522.33 million during the quarter, compared to analyst estimates of $491.50 million. Sterling Infrastructure had a net margin of 6.23% and a return on equity of 22.25%. Research analysts anticipate that Sterling Infrastructure, Inc. will post 4.09 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently commented on STRL. DA Davidson raised their price objective on shares of Sterling Infrastructure from $52.00 to $65.00 in a report on Monday, July 3rd. StockNews.com began coverage on Sterling Infrastructure in a research report on Thursday, August 17th. They set a “buy” rating on the stock.
Sterling Infrastructure Company Profile
Sterling Infrastructure, Inc engages in the e-infrastructure, transportation, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.
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