Principal Financial Group Inc. Acquires 8,657 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Principal Financial Group Inc. grew its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 49.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 26,038 shares of the construction company’s stock after acquiring an additional 8,657 shares during the period. Principal Financial Group Inc.’s holdings in Sterling Infrastructure were worth $2,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Teachers Retirement System boosted its holdings in Sterling Infrastructure by 4.3% in the 1st quarter. New York State Teachers Retirement System now owns 2,711 shares of the construction company’s stock valued at $299,000 after purchasing an additional 111 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Sterling Infrastructure by 1.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 12,763 shares of the construction company’s stock worth $1,122,000 after purchasing an additional 141 shares in the last quarter. Legacy Bridge LLC increased its position in shares of Sterling Infrastructure by 0.9% in the first quarter. Legacy Bridge LLC now owns 17,680 shares of the construction company’s stock worth $1,950,000 after purchasing an additional 155 shares during the period. BOKF NA raised its stake in Sterling Infrastructure by 0.4% in the fourth quarter. BOKF NA now owns 138,109 shares of the construction company’s stock valued at $12,144,000 after purchasing an additional 491 shares in the last quarter. Finally, Atticus Wealth Management LLC acquired a new stake in Sterling Infrastructure during the first quarter worth about $55,000. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL traded down $2.69 during midday trading on Friday, hitting $113.84. The stock had a trading volume of 40,986 shares, compared to its average volume of 362,854. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $3.51 billion, a P/E ratio of 23.96 and a beta of 1.19. The company’s 50-day moving average price is $118.70 and its 200-day moving average price is $101.68. Sterling Infrastructure, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $137.63.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Monday, May 6th. The construction company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. Sterling Infrastructure had a return on equity of 25.06% and a net margin of 7.47%. The firm had revenue of $440.36 million for the quarter, compared to the consensus estimate of $453.30 million. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.3 EPS for the current fiscal year.

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.