Truvestments Capital LLC Buys New Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Truvestments Capital LLC bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,445 shares of the construction company’s stock, valued at approximately $490,000.

Several other large investors have also added to or reduced their stakes in the company. JT Stratford LLC purchased a new position in Sterling Infrastructure during the first quarter valued at approximately $879,000. Advisors Asset Management Inc. lifted its holdings in Sterling Infrastructure by 5.5% during the first quarter. Advisors Asset Management Inc. now owns 52,957 shares of the construction company’s stock valued at $5,842,000 after purchasing an additional 2,772 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in Sterling Infrastructure by 14.1% during the first quarter. EntryPoint Capital LLC now owns 1,673 shares of the construction company’s stock valued at $185,000 after purchasing an additional 207 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Sterling Infrastructure by 149.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 7,166 shares of the construction company’s stock valued at $790,000 after purchasing an additional 4,289 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in Sterling Infrastructure during the first quarter valued at approximately $1,689,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Wednesday.

Sterling Infrastructure Price Performance

Shares of STRL stock traded up $5.22 during mid-day trading on Friday, hitting $115.28. The company had a trading volume of 196,649 shares, compared to its average volume of 352,845. Sterling Infrastructure, Inc. has a 52-week low of $55.45 and a 52-week high of $137.63. The stock’s 50 day moving average price is $118.85 and its 200-day moving average price is $105.65. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $3.56 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.40 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, May 6th. The construction company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.82 by $0.18. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. The firm had revenue of $440.36 million for the quarter, compared to the consensus estimate of $453.30 million. Equities research analysts forecast that Sterling Infrastructure, Inc. will post 5.25 earnings per share for the current 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.