Raymond James & Associates Purchases 3,690 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Raymond James & Associates raised its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,266 shares of the construction company’s stock after buying an additional 3,690 shares during the quarter. Raymond James & Associates owned about 0.10% of Sterling Infrastructure worth $2,749,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB bought a new stake in shares of Sterling Infrastructure during the 4th quarter valued at approximately $3,030,000. Graham Capital Management L.P. bought a new stake in shares of Sterling Infrastructure during the 3rd quarter valued at approximately $782,000. EFG Asset Management North America Corp. bought a new stake in shares of Sterling Infrastructure during the 3rd quarter valued at approximately $1,201,000. Lisanti Capital Growth LLC bought a new stake in shares of Sterling Infrastructure during the 3rd quarter valued at approximately $10,167,000. Finally, Invesco Ltd. grew its holdings in shares of Sterling Infrastructure by 4.1% during the 3rd quarter. Invesco Ltd. now owns 322,574 shares of the construction company’s stock valued at $23,703,000 after purchasing an additional 12,593 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Stock Down 0.6 %

NASDAQ:STRL opened at $104.89 on Monday. The firm’s 50 day simple moving average is $100.36 and its 200 day simple moving average is $83.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.25. Sterling Infrastructure, Inc. has a one year low of $35.19 and a one year high of $116.36. The company has a market cap of $3.24 billion, a PE ratio of 23.57, a P/E/G ratio of 1.05 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Monday, February 26th. The construction company reported $1.30 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $526.90 million. On average, research analysts anticipate that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current year.

Insider Transactions at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 4,134 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the transaction, the general counsel now owns 35,048 shares in the company, valued at approximately $3,722,798.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Mark D. Wolf sold 4,134 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the transaction, the general counsel now owns 35,048 shares in the company, valued at approximately $3,722,798.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald A. Ballschmiede sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $109.66, for a total transaction of $1,425,580.00. Following the completion of the transaction, the chief financial officer now owns 270,460 shares in the company, valued at approximately $29,658,643.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,172 shares of company stock worth $22,019,320. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

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

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.