Legacy Bridge LLC Invests $1.54 Million in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Legacy Bridge LLC purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,525 shares of the construction company's stock, valued at approximately $1,541,000. Sterling Infrastructure comprises about 1.0% of Legacy Bridge LLC's investment portfolio, making the stock its 29th largest position. Legacy Bridge LLC owned 0.06% of Sterling Infrastructure as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STRL. FMR LLC lifted its stake in Sterling Infrastructure by 53.5% in the 1st quarter. FMR LLC now owns 674 shares of the construction company's stock valued at $26,000 after buying an additional 235 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Sterling Infrastructure during the 3rd quarter worth $73,000. Comerica Bank acquired a new stake in shares of Sterling Infrastructure during the third quarter worth $79,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Sterling Infrastructure by 50.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,274 shares of the construction company's stock worth $27,000 after purchasing an additional 427 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Sterling Infrastructure in the first quarter valued at approximately $38,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock traded down $0.49 during trading on Monday, reaching $111.54. The company's stock had a trading volume of 337,808 shares, compared to its average volume of 393,888. The business's fifty day moving average price is $91.50 and its 200-day moving average price is $79.88. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.25 and a current ratio of 1.25. Sterling Infrastructure, Inc. has a one year low of $34.23 and a one year high of $116.36.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last released its earnings results on Monday, February 26th. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.00 by $0.30. Sterling Infrastructure had a return on equity of 24.75% and a net margin of 7.03%. The company had revenue of $485.98 million during the quarter, compared to analysts' expectations of $526.90 million. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current year.

Insider Activity

In other Sterling Infrastructure news, CFO Ronald A. Ballschmiede sold 3,289 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $113.52, for a total value of $373,367.28. Following the completion of the transaction, the chief financial officer now directly owns 267,171 shares in the company, valued at $30,329,251.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 1,500 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $110.90, for a total transaction of $166,350.00. Following the transaction, the general counsel now owns 29,548 shares in the company, valued at approximately $3,276,873.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald A. Ballschmiede sold 3,289 shares of the business's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $113.52, for a total transaction of $373,367.28. Following the completion of the sale, the chief financial officer now directly owns 267,171 shares of the company's stock, valued at approximately $30,329,251.92. The disclosure for this sale can be found here. Insiders sold 99,850 shares of company stock worth $10,997,015 over the last quarter. 4.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.

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