Raymond James & Associates Acquires 3,690 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Raymond James & Associates raised its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,266 shares of the construction company’s stock after acquiring an additional 3,690 shares during the period. Raymond James & Associates’ holdings in Sterling Infrastructure were worth $2,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Nordea Investment Management AB bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $3,030,000. American Century Companies Inc. grew its position in Sterling Infrastructure by 27.6% during the third quarter. American Century Companies Inc. now owns 304,148 shares of the construction company’s stock valued at $22,349,000 after acquiring an additional 65,737 shares during the last quarter. Graham Capital Management L.P. bought a new position in Sterling Infrastructure during the third quarter valued at approximately $782,000. Comerica Bank bought a new position in Sterling Infrastructure during the third quarter valued at approximately $79,000. Finally, Tudor Investment Corp Et Al grew its position in Sterling Infrastructure by 19.2% during the third quarter. Tudor Investment Corp Et Al now owns 82,411 shares of the construction company’s stock valued at $6,056,000 after acquiring an additional 13,254 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 4,134 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the transaction, the general counsel now owns 35,048 shares in the company, valued at $3,722,798.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Mark D. Wolf sold 4,134 shares of Sterling Infrastructure stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the sale, the general counsel now owns 35,048 shares in the company, valued at $3,722,798.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph A. Cutillo sold 33,214 shares of Sterling Infrastructure stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $108.71, for a total transaction of $3,610,693.94. Following the completion of the sale, the chief executive officer now owns 695,245 shares in the company, valued at approximately $75,580,083.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,172 shares of company stock worth $22,019,320. Insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Down 0.6 %

Shares of Sterling Infrastructure stock opened at $104.89 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.25 and a current ratio of 1.25. Sterling Infrastructure, Inc. has a 52-week low of $35.19 and a 52-week high of $116.36. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 1.05 and a beta of 1.19. The company’s 50 day moving average price is $100.36 and its 200-day moving average price is $83.20.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. The firm had revenue of $485.98 million for the quarter, compared to analysts’ expectations of $526.90 million. Equities research analysts forecast that Sterling Infrastructure, Inc. will post 4.98 EPS for the current year.

About Sterling Infrastructure

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.