Commerce Bank Purchases 680 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Commerce Bank raised its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 29.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,986 shares of the construction company’s stock after acquiring an additional 680 shares during the period. Commerce Bank’s holdings in Sterling Infrastructure were worth $433,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Segall Bryant & Hamill LLC lifted its position in shares of Sterling Infrastructure by 44.2% in the third quarter. Segall Bryant & Hamill LLC now owns 99,262 shares of the construction company’s stock worth $14,395,000 after purchasing an additional 30,437 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Sterling Infrastructure by 65.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,417 shares of the construction company’s stock worth $496,000 after buying an additional 1,347 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of Sterling Infrastructure by 157.1% during the 3rd quarter. Pathstone Holdings LLC now owns 9,900 shares of the construction company’s stock worth $1,436,000 after buying an additional 6,049 shares during the last quarter. Baron Wealth Management LLC bought a new position in shares of Sterling Infrastructure in the 3rd quarter valued at about $305,000. Finally, Quest Partners LLC increased its position in shares of Sterling Infrastructure by 212.4% in the third quarter. Quest Partners LLC now owns 3,624 shares of the construction company’s stock valued at $526,000 after acquiring an additional 2,464 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Stock Performance

NASDAQ STRL opened at $199.03 on Wednesday. The firm’s fifty day moving average price is $161.84 and its two-hundred day moving average price is $132.95. Sterling Infrastructure, Inc. has a 1 year low of $62.13 and a 1 year high of $203.49. The firm has a market capitalization of $6.11 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.29. The company had revenue of $593.74 million for the quarter, compared to analysts’ expectations of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same period in the prior year, the firm earned $1.26 EPS. As a group, research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the sale, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 7.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.80% of the stock is currently owned by corporate insiders.

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.