Meeder Asset Management Inc. Raises Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Meeder Asset Management Inc. boosted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 18.4% during the second quarter, HoldingsChannel reports. The fund owned 2,070 shares of the construction company’s stock after buying an additional 321 shares during the quarter. Meeder Asset Management Inc.’s holdings in Sterling Infrastructure were worth $245,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Sterling Infrastructure by 60.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 53,000 shares of the construction company’s stock valued at $4,660,000 after buying an additional 20,000 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Sterling Infrastructure by 47.1% in the first quarter. Nordea Investment Management AB now owns 50,420 shares of the construction company’s stock worth $5,651,000 after buying an additional 16,142 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Sterling Infrastructure in the first quarter valued at approximately $449,000. Principal Financial Group Inc. grew its stake in Sterling Infrastructure by 49.8% during the first quarter. Principal Financial Group Inc. now owns 26,038 shares of the construction company’s stock valued at $2,872,000 after acquiring an additional 8,657 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in Sterling Infrastructure by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock worth $48,558,000 after acquiring an additional 74,500 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Up 3.2 %

Shares of STRL opened at $127.10 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $3.91 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.38 and a beta of 1.16. The stock has a 50 day simple moving average of $113.76 and a two-hundred day simple moving average of $113.23. Sterling Infrastructure, Inc. has a 1 year low of $55.45 and a 1 year high of $137.63.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.24. The business had revenue of $582.82 million during the quarter, compared to analysts’ expectations of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same quarter in the prior year, the company posted $1.27 EPS. On average, analysts forecast that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday, September 7th.

Sterling Infrastructure 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.