Barclays PLC Grows Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Barclays PLC boosted its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 254.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 56,945 shares of the construction company’s stock after buying an additional 40,891 shares during the period. Barclays PLC’s holdings in Sterling Infrastructure were worth $8,259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of STRL. Allspring Global Investments Holdings LLC grew its position in shares of Sterling Infrastructure by 691.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock valued at $61,040,000 after purchasing an additional 450,620 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after buying an additional 325,620 shares in the last quarter. F M Investments LLC bought a new stake in Sterling Infrastructure in the 2nd quarter worth approximately $18,379,000. International Assets Investment Management LLC raised its holdings in shares of Sterling Infrastructure by 14,112.0% during the 3rd quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock worth $20,610,000 after acquiring an additional 141,120 shares in the last quarter. Finally, Congress Asset Management Co. boosted its position in shares of Sterling Infrastructure by 19.1% during the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after acquiring an additional 104,096 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Stock Down 2.0 %

Shares of NASDAQ:STRL opened at $176.59 on Wednesday. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 2.11 and a beta of 1.22. Sterling Infrastructure, Inc. has a 12 month low of $69.61 and a 12 month high of $203.49. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $175.78 and a 200 day moving average price of $139.63.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the company earned $1.26 EPS. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Insiders Place Their Bets

In other Sterling Infrastructure 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 value of $2,685,133.00. Following the completion of the sale, the executive vice president now owns 248,471 shares of the company’s stock, valued at $35,677,950.89. This trade 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 available at this hyperlink. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research 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.