Townsquare Capital LLC Acquires 23,631 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Townsquare Capital LLC grew its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 85.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,332 shares of the construction company’s stock after acquiring an additional 23,631 shares during the period. Townsquare Capital LLC owned 0.17% of Sterling Infrastructure worth $7,444,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Chartwell Investment Partners LLC grew its position in Sterling Infrastructure by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock worth $1,299,000 after acquiring an additional 70 shares in the last quarter. Xponance Inc. grew its position in Sterling Infrastructure by 5.1% in the second quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock worth $227,000 after acquiring an additional 93 shares in the last quarter. GAMMA Investing LLC grew its position in Sterling Infrastructure by 45.2% in the third quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock worth $44,000 after acquiring an additional 94 shares in the last quarter. EFG Asset Management North America Corp. grew its position in Sterling Infrastructure by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company’s stock worth $2,985,000 after acquiring an additional 120 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its position in Sterling Infrastructure by 1.0% in the second quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company’s stock worth $1,539,000 after acquiring an additional 124 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were 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 directly owns 248,471 shares in the company, valued at $35,677,950.89. This represents a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.80% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock opened at $195.41 on Thursday. The firm has a fifty day simple moving average of $164.42 and a 200-day simple moving average of $133.88. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a 1-year low of $62.13 and a 1-year high of $203.49. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.20 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping 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 analysts’ expectations of $599.90 million. During the same period in the previous year, the company earned $1.26 earnings per share. On average, sell-side analysts expect that Sterling Infrastructure, Inc. will post 5.96 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.