Arizona State Retirement System Sells 150 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Arizona State Retirement System cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,616 shares of the construction company’s stock after selling 150 shares during the quarter. Arizona State Retirement System’s holdings in Sterling Infrastructure were worth $758,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Sterling Infrastructure by 19.0% in the first quarter. BlackRock Inc. now owns 3,377,877 shares of the construction company’s stock worth $127,954,000 after purchasing an additional 538,387 shares during the period. Vanguard Group Inc. increased its stake in Sterling Infrastructure by 3.3% in the third quarter. Vanguard Group Inc. now owns 1,638,538 shares of the construction company’s stock worth $35,180,000 after purchasing an additional 52,977 shares during the period. Dimensional Fund Advisors LP increased its stake in Sterling Infrastructure by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,519,495 shares of the construction company’s stock worth $57,558,000 after purchasing an additional 15,998 shares during the period. FMR LLC increased its stake in shares of Sterling Infrastructure by 45.0% during the third quarter. FMR LLC now owns 847,335 shares of the construction company’s stock valued at $62,262,000 after buying an additional 263,046 shares during the period. Finally, State Street Corp increased its stake in shares of Sterling Infrastructure by 1.5% during the second quarter. State Street Corp now owns 622,676 shares of the construction company’s stock valued at $34,745,000 after buying an additional 9,201 shares during the period. 80.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,134 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the completion of the transaction, the general counsel now directly owns 35,048 shares in the company, valued at $3,722,798.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,134 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the completion of the transaction, the general counsel now directly owns 35,048 shares in the company, valued at $3,722,798.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronald A. Ballschmiede sold 3,289 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $113.52, for a total value of $373,367.28. Following the sale, the chief financial officer now owns 267,171 shares in the company, valued at approximately $30,329,251.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,172 shares of company stock worth $22,019,320. 3.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock opened at $98.32 on Friday. The firm has a market cap of $3.04 billion, a P/E ratio of 22.09, a P/E/G ratio of 1.00 and a beta of 1.19. 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, Inc. has a 12 month low of $35.56 and a 12 month high of $116.36. The stock’s fifty day moving average price is $101.71 and its 200-day moving average price is $83.68.

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