Stratos Wealth Partners LTD. Purchases 7,454 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Stratos Wealth Partners LTD. raised its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 19.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,316 shares of the construction company’s stock after acquiring an additional 7,454 shares during the period. Stratos Wealth Partners LTD. owned approximately 0.15% of Sterling Infrastructure worth $6,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of STRL. Vanguard Group Inc. raised its stake in Sterling Infrastructure by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company’s stock valued at $208,242,000 after purchasing an additional 8,851 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Sterling Infrastructure by 11.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company’s stock valued at $63,147,000 after buying an additional 54,727 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sterling Infrastructure by 691.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock valued at $61,040,000 after acquiring an additional 450,620 shares during the last quarter. Hennessy Advisors Inc. grew its position in Sterling Infrastructure by 20.4% in the first 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 in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Sterling Infrastructure by 0.8% in the second quarter. Point72 Asset Management L.P. now owns 207,449 shares of the construction company’s stock worth $24,550,000 after acquiring an additional 1,554 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

Insider Transactions at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the transaction, the executive vice president now owns 248,471 shares in the company, valued at $35,677,950.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Stock Down 3.4 %

NASDAQ STRL opened at $159.84 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. Sterling Infrastructure, Inc. has a 52 week low of $55.45 and a 52 week high of $170.50. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 1.82 and a beta of 1.17. The company has a fifty day moving average of $131.52 and a two-hundred day moving average of $120.37.

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

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.