Russell Investments Group Ltd. Cuts Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Russell Investments Group Ltd. reduced its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 32.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 143,343 shares of the construction company's stock after selling 69,905 shares during the period. Russell Investments Group Ltd. owned 0.46% of Sterling Infrastructure worth $12,604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STRL. FMR LLC increased its position in shares of Sterling Infrastructure by 45.0% in the third quarter. FMR LLC now owns 847,335 shares of the construction company's stock valued at $62,262,000 after acquiring an additional 263,046 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Sterling Infrastructure by 347.4% in the third quarter. Lord Abbett & CO. LLC now owns 616,017 shares of the construction company's stock valued at $45,265,000 after purchasing an additional 478,331 shares in the last quarter. Congress Asset Management Co. MA grew its stake in Sterling Infrastructure by 6.3% in the third quarter. Congress Asset Management Co. MA now owns 549,375 shares of the construction company's stock valued at $40,368,000 after purchasing an additional 32,597 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Sterling Infrastructure by 11.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,659 shares of the construction company's stock valued at $34,364,000 after purchasing an additional 47,327 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Sterling Infrastructure by 43.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 365,027 shares of the construction company's stock valued at $26,822,000 after purchasing an additional 110,146 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,134 shares of the company's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the transaction, the general counsel now directly owns 35,048 shares in the company, valued at $3,722,798.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Mark D. Wolf sold 4,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $108.16, for a total transaction of $432,640.00. Following the transaction, the general counsel now owns 31,048 shares in the company, valued at $3,358,151.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Mark D. Wolf sold 4,134 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the completion of the sale, the general counsel now owns 35,048 shares of the company's stock, valued at $3,722,798.56. The disclosure for this sale can be found here. In the last three months, insiders sold 198,172 shares of company stock worth $22,019,320. 3.70% of the stock is owned by company insiders.

Sterling Infrastructure Stock Up 0.5 %

STRL stock traded up $0.50 during mid-day trading on Friday, reaching $101.15. The company had a trading volume of 222,220 shares, compared to its average volume of 266,609. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a 50 day simple moving average of $105.92 and a two-hundred day simple moving average of $85.98. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.02 and a beta of 1.21. Sterling Infrastructure, Inc. has a 52 week low of $39.30 and a 52 week high of $116.36.

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

Wall Street Analysts Forecast Growth

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

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.