Ausbil Investment Management Ltd Cuts Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Ausbil Investment Management Ltd lowered its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 71.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,192 shares of the construction company’s stock after selling 20,648 shares during the period. Ausbil Investment Management Ltd’s holdings in Sterling Infrastructure were worth $1,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after purchasing an additional 5,106 shares during the last quarter. Bay Rivers Group bought a new stake in shares of Sterling Infrastructure in the 4th quarter valued at about $341,000. Park Avenue Securities LLC bought a new position in shares of Sterling Infrastructure during the 4th quarter worth approximately $253,000. Principal Financial Group Inc. lifted its position 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 valued at $51,561,000 after acquiring an additional 325,620 shares during the last quarter. Finally, Algert Global LLC boosted its stake in Sterling Infrastructure by 34.0% in the third quarter. Algert Global LLC now owns 26,141 shares of the construction company’s stock valued at $3,791,000 after acquiring an additional 6,630 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of STRL opened at $142.42 on Friday. The business’s 50-day moving average is $177.41 and its two-hundred day moving average is $152.01. The company 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. Sterling Infrastructure, Inc. has a fifty-two week low of $74.44 and a fifty-two week high of $206.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29.

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

Insider Activity

In related news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction 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 sale, the director now directly owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

STRL has been the subject of several analyst reports. William Blair initiated coverage on Sterling Infrastructure in a report on Friday, January 17th. They set an “outperform” rating for the company. StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research note on Wednesday.

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.