Mackenzie Financial Corp Acquires Shares of 3,343 Sterling Infrastructure, Inc. (NASDAQ:STRL)

Mackenzie Financial Corp bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the fourth quarter, HoldingsChannel reports. The firm bought 3,343 shares of the construction company’s stock, valued at approximately $294,000.

Several other large investors have also recently modified their holdings of STRL. FMR LLC boosted its stake in Sterling Infrastructure by 45.0% during the third quarter. FMR LLC now owns 847,335 shares of the construction company’s stock worth $62,262,000 after buying an additional 263,046 shares during the period. Lord Abbett & CO. LLC grew its holdings in Sterling Infrastructure by 347.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 616,017 shares of the construction company’s stock valued at $45,265,000 after purchasing an additional 478,331 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in Sterling Infrastructure by 6.3% during the 3rd quarter. Congress Asset Management Co. MA now owns 549,375 shares of the construction company’s stock valued at $40,368,000 after purchasing an additional 32,597 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Sterling Infrastructure by 11.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,659 shares of the construction company’s stock worth $34,364,000 after purchasing an additional 47,327 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Sterling Infrastructure by 43.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 365,027 shares of the construction company’s stock worth $26,822,000 after purchasing an additional 110,146 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Stock Up 3.6 %

Shares of STRL opened at $105.89 on Friday. The firm has a market capitalization of $3.27 billion, a P/E ratio of 23.80, a P/E/G ratio of 1.03 and a beta of 1.19. Sterling Infrastructure, Inc. has a 12-month low of $35.68 and a 12-month high of $116.36. The firm has a fifty day moving average price of $104.17 and a 200-day moving average price of $84.98. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.50.

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

Insider Transactions at Sterling Infrastructure

In related news, CEO Joseph A. Cutillo sold 20,000 shares of Sterling Infrastructure stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $109.78, for a total value of $2,195,600.00. Following the completion of the sale, the chief executive officer now directly owns 448,133 shares in the company, valued at $49,196,040.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sterling Infrastructure news, CFO Ronald A. Ballschmiede sold 13,000 shares of Sterling Infrastructure stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $109.66, for a total value of $1,425,580.00. Following the transaction, the chief financial officer now owns 270,460 shares in the company, valued at $29,658,643.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph A. Cutillo sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $109.78, for a total transaction of $2,195,600.00. Following the completion of the sale, the chief executive officer now owns 448,133 shares of the company’s stock, valued at $49,196,040.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,172 shares of company stock valued at $22,019,320. 3.70% of the stock is currently owned by corporate insiders.

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.