Raymond James Financial Services Advisors Inc. Grows Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Raymond James Financial Services Advisors Inc. raised its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 248.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,332 shares of the construction company's stock after purchasing an additional 20,905 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.10% of Sterling Infrastructure worth $2,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new stake in shares of Sterling Infrastructure during the 4th quarter valued at $3,030,000. Graham Capital Management L.P. purchased a new stake in shares of Sterling Infrastructure in the third quarter worth about $782,000. EFG Asset Management North America Corp. bought a new position in shares of Sterling Infrastructure in the third quarter valued at approximately $1,201,000. Lisanti Capital Growth LLC bought a new position in shares of Sterling Infrastructure in the third quarter valued at approximately $10,167,000. Finally, Invesco Ltd. grew its stake in Sterling Infrastructure by 4.1% during the third quarter. Invesco Ltd. now owns 322,574 shares of the construction company's stock valued at $23,703,000 after acquiring an additional 12,593 shares in the last quarter. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock traded down $0.37 during midday trading on Tuesday, hitting $106.03. 227,970 shares of the company's stock were exchanged, compared to its average volume of 379,357. The stock has a 50-day moving average price of $98.71 and a two-hundred day moving average price of $82.50. Sterling Infrastructure, Inc. has a 52-week low of $34.42 and a 52-week high of $116.36. The company has a market cap of $3.28 billion, a P/E ratio of 23.83, a PEG ratio of 1.08 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 (NASDAQ:STRL - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.30. The company had revenue of $485.98 million for the quarter, compared to analysts' expectations of $526.90 million. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. On average, equities research analysts forecast that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO Joseph A. Cutillo sold 40,713 shares of the company's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $111.74, for a total value of $4,549,270.62. Following the completion of the transaction, the chief executive officer now directly owns 606,455 shares in the company, valued at $67,765,281.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Joseph A. Cutillo sold 40,713 shares of the firm's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $111.74, for a total transaction of $4,549,270.62. Following the transaction, the chief executive officer now directly owns 606,455 shares of the company's stock, valued at approximately $67,765,281.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark D. Wolf sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $110.90, for a total value of $166,350.00. Following the completion of the sale, the general counsel now directly owns 29,548 shares of the company's stock, valued at approximately $3,276,873.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,172 shares of company stock worth $22,019,320. 3.80% of the stock is currently owned by corporate insiders.

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.