Raymond James & Associates increased its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 89.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,301 shares of the construction company’s stock after acquiring an additional 14,815 shares during the quarter. Raymond James & Associates owned approximately 0.10% of Sterling Infrastructure worth $1,747,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Ziegler Capital Management LLC acquired a new position in shares of Sterling Infrastructure in the 2nd quarter worth $6,271,000. Assenagon Asset Management S.A. grew its holdings in shares of Sterling Infrastructure by 45.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 303,457 shares of the construction company’s stock worth $16,933,000 after acquiring an additional 94,622 shares during the last quarter. Ellsworth Advisors LLC grew its holdings in shares of Sterling Infrastructure by 2.4% in the 2nd quarter. Ellsworth Advisors LLC now owns 11,270 shares of the construction company’s stock worth $629,000 after acquiring an additional 263 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in shares of Sterling Infrastructure by 0.8% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 80,390 shares of the construction company’s stock worth $4,486,000 after acquiring an additional 621 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Sterling Infrastructure in the 2nd quarter worth $875,000. 80.89% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, StockNews.com started coverage on Sterling Infrastructure in a research report on Thursday, October 5th. They issued a “buy” rating for the company.
Sterling Infrastructure Stock Performance
Shares of Sterling Infrastructure stock opened at $72.85 on Wednesday. The stock has a market cap of $2.25 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.33. The business has a fifty day simple moving average of $75.24 and a 200-day simple moving average of $61.17. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.61. Sterling Infrastructure, Inc. has a 12 month low of $26.73 and a 12 month high of $84.00.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last issued its earnings results on Monday, August 7th. The construction company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.93 by $0.34. The business had revenue of $522.33 million during the quarter, compared to analysts’ expectations of $491.50 million. Sterling Infrastructure had a return on equity of 22.25% and a net margin of 6.23%. On average, sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 4.09 EPS for the current fiscal year.
About Sterling Infrastructure
Sterling Infrastructure, Inc engages in the e-infrastructure, transportation, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.
Recommended Stories
- Five stocks we like better than Sterling Infrastructure
- Video Game Stocks: How to Invest in Gaming
- Caterpillar crawls into a new buying opportunity
- Insider Buying Explained: What Investors Need to Know
- Is there merit in these low-beta moat stocks? Analysts say yes
- Short Selling: How to Short a Stock
- Oil swings have led analysts to recommend these 2 stocks
Want to see what other hedge funds are holding STRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report).
Receive News & Ratings for Sterling Infrastructure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Infrastructure and related companies with MarketBeat.com's FREE daily email newsletter.
