Kovack Advisors Inc. Purchases New Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Kovack Advisors Inc. acquired a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 2,823 shares of the construction company’s stock, valued at approximately $409,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in shares of Sterling Infrastructure by 587.9% in the 1st quarter. SG Americas Securities LLC now owns 9,817 shares of the construction company’s stock valued at $1,083,000 after purchasing an additional 8,390 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Sterling Infrastructure by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,384 shares of the construction company’s stock worth $594,000 after buying an additional 424 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Sterling Infrastructure by 69.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,465 shares of the construction company’s stock worth $1,596,000 after acquiring an additional 5,910 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Sterling Infrastructure by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company’s stock valued at $208,242,000 after acquiring an additional 8,851 shares during the last quarter. Finally, Cynosure Group LLC bought a new position in shares of Sterling Infrastructure in the 1st quarter valued at approximately $304,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $182.39 on Friday. The company has a market capitalization of $5.60 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 2.14 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 1.24. Sterling Infrastructure, Inc. has a one year low of $62.13 and a one year high of $201.27. The company’s fifty day moving average price is $150.14 and its 200 day moving average price is $128.28.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating 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 company had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. During the same period last year, the business posted $1.26 earnings per share. As a group, analysts expect that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. The trade was a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.70% of the company’s 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.