World Investment Advisors LLC Makes New $4.40 Million Investment in Sterling Infrastructure, Inc. (NASDAQ:STRL)

World Investment Advisors LLC purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 30,309 shares of the construction company’s stock, valued at approximately $4,395,000. World Investment Advisors LLC owned about 0.10% of Sterling Infrastructure as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Sterling Infrastructure by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after acquiring an additional 3,918 shares during the last quarter. State Street Corp increased its holdings in Sterling Infrastructure by 0.7% in the third 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. raised its position 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Sterling Infrastructure by 19.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock worth $89,608,000 after buying an additional 102,101 shares during the period. Finally, Driehaus Capital Management LLC grew its position in shares of Sterling Infrastructure by 11.4% in 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 during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Analyst Ratings Changes

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

Sterling Infrastructure Stock Performance

Shares of STRL opened at $183.61 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm’s fifty day simple moving average is $174.48 and its two-hundred day simple moving average is $138.62. Sterling Infrastructure, Inc. has a 12 month low of $69.61 and a 12 month high of $203.49. The stock has a market capitalization of $5.64 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.22.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. The business had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. During the same quarter last year, the firm posted $1.26 earnings per share. As a group, analysts predict that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Insider Transactions at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 248,471 shares in the company, valued at $35,677,950.89. This trade represents a 7.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company’s stock.

About Sterling Infrastructure

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.