Point72 Asia Singapore Pte. Ltd. Increases Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,748 shares of the construction company’s stock after buying an additional 288 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Sterling Infrastructure were worth $325,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in STRL. Hantz Financial Services Inc. acquired a new position in Sterling Infrastructure during the 2nd quarter worth approximately $30,000. Nisa Investment Advisors LLC grew its holdings in Sterling Infrastructure by 391.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after acquiring an additional 219 shares in the last quarter. Crewe Advisors LLC grew its holdings in Sterling Infrastructure by 85.4% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. Family Firm Inc. acquired a new position in Sterling Infrastructure during the 2nd quarter worth approximately $38,000. Finally, Opal Wealth Advisors LLC acquired a new position in Sterling Infrastructure during the 2nd quarter worth approximately $40,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Sunday, September 15th.

Sterling Infrastructure Trading Up 0.2 %

Shares of Sterling Infrastructure stock opened at $145.94 on Thursday. The company has a fifty day simple moving average of $117.69 and a 200-day simple moving average of $115.33. Sterling Infrastructure, Inc. has a 12-month low of $55.45 and a 12-month high of $152.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.76 and a beta of 1.16.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.24. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. The business had revenue of $582.82 million during the quarter, compared to analysts’ expectations of $553.70 million. During the same quarter in the prior year, the business posted $1.27 EPS. On average, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Insider Activity

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the transaction, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.70% of the company’s stock.

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.