Sterling Infrastructure, Inc. (NASDAQ:STRL) Stock Position Lifted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 28.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,620 shares of the construction company’s stock after purchasing an additional 13,115 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.19% of Sterling Infrastructure worth $8,646,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Hantz Financial Services Inc. bought a new stake in Sterling Infrastructure during the second quarter worth approximately $30,000. Nisa Investment Advisors LLC boosted its position in shares of Sterling Infrastructure by 391.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after purchasing an additional 219 shares during the period. Crewe Advisors LLC lifted its stake in Sterling Infrastructure by 85.4% during the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after buying an additional 135 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Sterling Infrastructure in the second quarter worth $38,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Sterling Infrastructure in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock opened at $174.31 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $143.92 and a 200-day simple moving average of $125.60. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.79 and a beta of 1.15. Sterling Infrastructure, Inc. has a 1-year low of $62.13 and a 1-year high of $176.22.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. The company had revenue of $582.82 million during the quarter, compared to analysts’ expectations of $553.70 million. During the same period in the prior year, the company earned $1.27 earnings per share. On average, sell-side analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the 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 owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.