Portside Wealth Group LLC Purchases 1,936 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Portside Wealth Group LLC lifted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 71.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,636 shares of the construction company’s stock after buying an additional 1,936 shares during the quarter. Portside Wealth Group LLC’s holdings in Sterling Infrastructure were worth $672,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS boosted its stake in shares of Sterling Infrastructure by 28.2% during the third quarter. Kornitzer Capital Management Inc. KS now owns 59,620 shares of the construction company’s stock valued at $8,646,000 after purchasing an additional 13,115 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after acquiring an additional 325,620 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Sterling Infrastructure during the third quarter valued at approximately $755,000. HMS Capital Management LLC grew its holdings in Sterling Infrastructure by 4.0% in the third quarter. HMS Capital Management LLC now owns 5,065 shares of the construction company’s stock worth $735,000 after purchasing an additional 194 shares during the last quarter. Finally, Geneva Partners LLC acquired a new stake in shares of Sterling Infrastructure in the 3rd quarter worth $806,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of STRL opened at $193.61 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 company’s fifty day moving average price is $145.40 and its 200-day moving average price is $126.26. Sterling Infrastructure, Inc. has a 1-year low of $62.13 and a 1-year high of $194.07. The firm has a market capitalization of $5.95 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 2.07 and a beta of 1.15.

Insider Buying and Selling at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the transaction, the executive vice president now directly owns 248,471 shares in the company, valued at $35,677,950.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Sunday, September 15th.

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.