Assetmark Inc. Purchases 876 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Assetmark Inc. increased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 357.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,121 shares of the construction company’s stock after acquiring an additional 876 shares during the period. Assetmark Inc.’s holdings in Sterling Infrastructure were worth $163,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Xponance Inc. grew its position in shares of Sterling Infrastructure by 5.1% in the 2nd quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock valued at $227,000 after buying an additional 93 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Sterling Infrastructure by 45.2% in the 3rd quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock valued at $44,000 after buying an additional 94 shares during the last quarter. EFG Asset Management North America Corp. grew its position in shares of Sterling Infrastructure by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company’s stock valued at $2,985,000 after buying an additional 120 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Sterling Infrastructure by 1.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company’s stock valued at $1,539,000 after buying an additional 124 shares during the last quarter. Finally, Crewe Advisors LLC grew its position in shares of Sterling Infrastructure by 85.4% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Down 1.3 %

STRL stock opened at $180.03 on Monday. The stock’s 50 day simple moving average is $153.02 and its 200 day simple moving average is $129.37. Sterling Infrastructure, Inc. has a fifty-two week low of $62.13 and a fifty-two week high of $201.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.24 and a current ratio of 1.29. The company has a market cap of $5.53 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.68 by $0.29. The firm had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same period in the prior year, the business posted $1.26 earnings per share. On average, research analysts expect that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the transaction, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. This represents a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.