Bay Rivers Group Acquires New Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Bay Rivers Group bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 4th quarter, HoldingsChannel reports. The firm bought 2,027 shares of the construction company’s stock, valued at approximately $341,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STRL. Geode Capital Management LLC raised its stake in Sterling Infrastructure by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock worth $104,431,000 after buying an additional 3,918 shares during the period. State Street Corp grew its position in shares of Sterling Infrastructure by 0.7% in the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after purchasing an additional 5,106 shares during the period. Congress Asset Management Co. increased its stake 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 worth $93,962,000 after purchasing an additional 104,096 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Sterling Infrastructure by 19.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock valued at $89,608,000 after buying an additional 102,101 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Sterling Infrastructure by 4.9% in the third quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company’s stock valued at $55,248,000 after buying an additional 17,863 shares during the period. 80.95% of the stock is owned by institutional investors.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the transaction, the director now directly owns 25,901 shares in the company, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by company insiders.

Sterling Infrastructure Trading Down 23.7 %

NASDAQ:STRL opened at $143.00 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a twelve month low of $74.44 and a twelve month high of $206.07. The company has a market cap of $4.39 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 2.07 and a beta of 1.26. The business has a 50 day moving average price of $182.39 and a two-hundred day moving average price of $151.73.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $599.90 million. During the same quarter last year, the firm earned $1.26 earnings per share. As a group, analysts expect that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, William Blair initiated coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They set an “outperform” rating on the stock.

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.