Connor Clark & Lunn Investment Management Ltd. Acquires 10,097 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 9.0% during the third quarter, HoldingsChannel reports. The fund owned 122,711 shares of the construction company’s stock after buying an additional 10,097 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sterling Infrastructure were worth $17,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in STRL. Commerce Bank grew its position in shares of Sterling Infrastructure by 29.5% in the 3rd quarter. Commerce Bank now owns 2,986 shares of the construction company’s stock valued at $433,000 after buying an additional 680 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in Sterling Infrastructure by 44.2% in the third quarter. Segall Bryant & Hamill LLC now owns 99,262 shares of the construction company’s stock worth $14,395,000 after purchasing an additional 30,437 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Sterling Infrastructure by 65.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,417 shares of the construction company’s stock worth $496,000 after buying an additional 1,347 shares in the last quarter. Pathstone Holdings LLC grew its position in shares of Sterling Infrastructure by 157.1% during the 3rd quarter. Pathstone Holdings LLC now owns 9,900 shares of the construction company’s stock worth $1,436,000 after buying an additional 6,049 shares during the period. Finally, Baron Wealth Management LLC bought a new stake in shares of Sterling Infrastructure in the 3rd quarter valued at $305,000. 80.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the sale, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. This represents a 7.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock opened at $189.43 on Thursday. The business has a 50-day simple moving average of $156.17 and a 200 day simple moving average of $130.82. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 2.01 and a beta of 1.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. Sterling Infrastructure, Inc. has a one year low of $62.13 and a one year high of $201.27.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS 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 analyst estimates of $599.90 million. During the same quarter in the previous year, the business posted $1.26 EPS. On average, research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal 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.