International Assets Investment Management LLC Increases Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

International Assets Investment Management LLC increased its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 8,693.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,930 shares of the construction company's stock after buying an additional 86,930 shares during the period. International Assets Investment Management LLC owned 0.29% of Sterling Infrastructure worth $7,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of STRL. FMR LLC boosted its holdings 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 purchasing an additional 235 shares during the period. McGlone Suttner Wealth Management Inc. bought a new position in Sterling Infrastructure in the 4th quarter valued at $60,000. Comerica Bank bought a new position in Sterling Infrastructure in the 3rd quarter valued at $79,000. Public Employees Retirement System of Ohio boosted its holdings in 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 valued at $27,000 after purchasing an additional 427 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Sterling Infrastructure in the 1st quarter valued at $38,000. 80.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Joseph A. Cutillo sold 40,713 shares of the firm's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $111.74, for a total transaction of $4,549,270.62. Following the sale, the chief executive officer now owns 606,455 shares in the company, valued at approximately $67,765,281.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, General Counsel Mark D. Wolf sold 1,500 shares of Sterling Infrastructure stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $110.90, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph A. Cutillo sold 40,713 shares of Sterling Infrastructure stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 606,455 shares in the company, valued at approximately $67,765,281.70. 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 Price Performance

NASDAQ:STRL traded down $4.48 during trading hours on Monday, hitting $100.41. The stock had a trading volume of 227,543 shares, compared to its average volume of 370,082. The company has a 50 day simple moving average of $100.84 and a two-hundred day simple moving average of $83.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.25. Sterling Infrastructure, Inc. has a one year low of $35.56 and a one year high of $116.36. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.05 and a beta of 1.19.

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, beating the consensus estimate of $1.00 by $0.30. The firm 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%. Research analysts forecast that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current fiscal year.

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.