Advisors Asset Management Inc. Has $7.39 Million Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Advisors Asset Management Inc. grew its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,934 shares of the construction company’s stock after buying an additional 991 shares during the period. Advisors Asset Management Inc. owned approximately 0.17% of Sterling Infrastructure worth $7,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Chartwell Investment Partners LLC lifted its position in shares of Sterling Infrastructure by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock worth $1,299,000 after buying an additional 70 shares during the last quarter. Xponance Inc. lifted its position in shares of Sterling Infrastructure by 5.1% during the 2nd quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock worth $227,000 after purchasing an additional 93 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Sterling Infrastructure by 45.2% during the 3rd quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock worth $44,000 after purchasing an additional 94 shares during the last quarter. EFG Asset Management North America Corp. lifted its position in shares of Sterling Infrastructure by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company’s stock worth $2,985,000 after purchasing an additional 120 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in shares of Sterling Infrastructure by 1.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company’s stock worth $1,539,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 248,471 shares in the company, valued at $35,677,950.89. This represents a 7.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by corporate insiders.

Sterling Infrastructure Trading Down 1.8 %

Shares of STRL opened at $189.43 on Thursday. Sterling Infrastructure, Inc. has a 12-month low of $62.13 and a 12-month high of $201.27. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 32.00, a P/E/G ratio of 2.01 and a beta of 1.15. The stock’s 50-day moving average price is $156.17 and its 200 day moving average price is $130.82.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results 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. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. The firm had revenue of $593.74 million for the quarter, compared to analyst estimates of $599.90 million. During the same period in the previous year, the company posted $1.26 earnings per share. As a group, research analysts predict that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Analysts Set New Price Targets

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

Sterling Infrastructure Company 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.