Highland Capital Management LLC Takes $242,000 Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Highland Capital Management LLC purchased a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 4th quarter, Holdings Channel.com reports. The firm purchased 1,438 shares of the construction company’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in Sterling Infrastructure by 1,088.1% during the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after buying an additional 325,620 shares during the last quarter. International Assets Investment Management LLC grew its position in Sterling Infrastructure by 14,112.0% during the 3rd quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock worth $20,610,000 after acquiring an additional 141,120 shares during the last quarter. Congress Asset Management Co. increased its holdings in Sterling Infrastructure by 19.1% during the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after purchasing an additional 104,096 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Sterling Infrastructure by 19.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock valued at $89,608,000 after purchasing an additional 102,101 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Sterling Infrastructure by 58.9% in the third quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company’s stock worth $18,682,000 after purchasing an additional 47,734 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on STRL. William Blair began coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They set an “outperform” rating on the stock. StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Wednesday.

Insiders Place Their Bets

In related news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the transaction, the director now owns 25,901 shares in the company, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL opened at $142.42 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a 1-year low of $74.44 and a 1-year high of $206.07. The stock has a market capitalization of $4.37 billion, a P/E ratio of 24.06, a P/E/G ratio of 1.46 and a beta of 1.26. The business has a 50-day moving average price of $177.41 and a two-hundred day moving average price of $152.01.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The business had revenue of $593.74 million for the quarter, compared to analyst estimates of $599.90 million. During the same period in the prior year, the business posted $1.26 earnings per share. Equities analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current 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.