State of New Jersey Common Pension Fund D Buys 1,388 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

State of New Jersey Common Pension Fund D grew its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,729 shares of the construction company’s stock after purchasing an additional 1,388 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Sterling Infrastructure worth $2,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of STRL. Capital Performance Advisors LLP bought a new stake in shares of Sterling Infrastructure during the third quarter valued at approximately $26,000. Hantz Financial Services Inc. purchased a new stake in shares of Sterling Infrastructure in the 2nd quarter worth approximately $30,000. Nisa Investment Advisors LLC increased its position in Sterling Infrastructure by 391.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after buying an additional 219 shares in the last quarter. Crewe Advisors LLC raised its stake in Sterling Infrastructure by 85.4% during the second 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. Finally, Family Firm Inc. bought a new stake in Sterling Infrastructure in the second quarter worth $38,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Down 2.5 %

Shares of NASDAQ STRL opened at $186.65 on Thursday. The company has a market cap of $5.73 billion, a PE ratio of 31.53, a P/E/G ratio of 2.14 and a beta of 1.15. 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 firm’s 50 day moving average price is $150.14 and its 200-day moving average price is $128.28. Sterling Infrastructure, Inc. has a 52-week low of $62.13 and a 52-week high of $201.27.

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

Insiders Place Their Bets

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction that occurred 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 sale, the executive vice president now directly owns 248,471 shares in the company, valued at $35,677,950.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.