State of New Jersey Common Pension Fund D Increases Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

State of New Jersey Common Pension Fund D grew its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,760 shares of the construction company's stock after acquiring an additional 8,904 shares during the period. State of New Jersey Common Pension Fund D owned about 0.13% of Sterling Infrastructure worth $3,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. CWM LLC boosted its holdings in Sterling Infrastructure by 6.5% in the 3rd quarter. CWM LLC now owns 5,735 shares of the construction company's stock worth $421,000 after buying an additional 350 shares during the period. SG Americas Securities LLC boosted its holdings in Sterling Infrastructure by 101.8% in the 3rd quarter. SG Americas Securities LLC now owns 5,472 shares of the construction company's stock worth $402,000 after buying an additional 2,760 shares during the period. Commonwealth Equity Services LLC bought a new position in Sterling Infrastructure in the 3rd quarter worth $437,000. Raymond James Financial Services Advisors Inc. bought a new position in Sterling Infrastructure in the 3rd quarter worth $619,000. Finally, Stratos Wealth Partners LTD. boosted its holdings in Sterling Infrastructure by 50.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 23,606 shares of the construction company's stock worth $1,735,000 after buying an additional 7,933 shares during the period. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Price Performance

STRL stock traded up $3.69 during mid-day trading on Friday, hitting $105.89. The company had a trading volume of 285,260 shares, compared to its average volume of 247,683. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 1.03 and a beta of 1.19. Sterling Infrastructure, Inc. has a 12-month low of $35.68 and a 12-month high of $116.36. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $104.17 and a 200 day moving average price of $84.98.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.00 by $0.30. The business 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, research analysts anticipate that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 33,214 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $108.71, for a total value of $3,610,693.94. Following the sale, the chief executive officer now owns 695,245 shares in the company, valued at approximately $75,580,083.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Mark D. Wolf sold 4,134 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total transaction of $439,113.48. Following the sale, the general counsel now directly owns 35,048 shares in the company, valued at approximately $3,722,798.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph A. Cutillo sold 33,214 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $108.71, for a total transaction of $3,610,693.94. Following the sale, the chief executive officer now owns 695,245 shares in the company, valued at $75,580,083.95. The disclosure for this sale can be found here. Insiders have sold a total of 198,172 shares of company stock worth $22,019,320 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

About Sterling Infrastructure

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.