Handelsbanken Fonder AB Acquires New Shares in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Handelsbanken Fonder AB bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,400 shares of the construction company’s stock, valued at approximately $651,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in STRL. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Sterling Infrastructure during the 4th quarter worth $60,000. Cookson Peirce & Co. Inc. bought a new stake in Sterling Infrastructure during the fourth quarter valued at about $212,000. OMERS ADMINISTRATION Corp bought a new position in shares of Sterling Infrastructure in the third quarter worth about $265,000. GW Henssler & Associates Ltd. bought a new position in shares of Sterling Infrastructure in the third quarter worth about $267,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Sterling Infrastructure during the 4th quarter worth about $294,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Mark D. Wolf sold 1,500 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $110.90, for a total value of $166,350.00. Following the completion of the transaction, the general counsel now directly owns 29,548 shares in the company, valued at $3,276,873.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Mark D. Wolf sold 1,500 shares of Sterling Infrastructure stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $110.90, for a total transaction of $166,350.00. Following the sale, the general counsel now directly owns 29,548 shares in the company, valued at approximately $3,276,873.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph A. Cutillo sold 20,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $109.78, for a total transaction of $2,195,600.00. Following the completion of the transaction, the chief executive officer now directly owns 448,133 shares of the company’s stock, valued at approximately $49,196,040.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,172 shares of company stock worth $22,019,320. 3.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Price Performance

NASDAQ:STRL opened at $105.75 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $3.27 billion, a P/E ratio of 23.76, a PEG ratio of 1.06 and a beta of 1.19. The company has a fifty day moving average price of $104.61 and a 200 day moving average price of $85.22. Sterling Infrastructure, Inc. has a one year low of $35.68 and a one year high of $116.36.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, beating 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 business had revenue of $485.98 million during the quarter, compared to analysts’ expectations of $526.90 million. Analysts anticipate that Sterling Infrastructure, Inc. will post 4.98 earnings per share 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.