Ausbil Investment Management Ltd Has $4.18 Million Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Ausbil Investment Management Ltd cut its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 4.7% during the third quarter, Holdings Channel reports. The fund owned 28,840 shares of the construction company’s stock after selling 1,416 shares during the quarter. Sterling Infrastructure comprises about 1.2% of Ausbil Investment Management Ltd’s holdings, making the stock its 24th biggest holding. Ausbil Investment Management Ltd’s holdings in Sterling Infrastructure were worth $4,182,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in STRL. Vanguard Group Inc. boosted 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 worth $208,242,000 after buying an additional 8,851 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Sterling Infrastructure by 19.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock worth $89,608,000 after purchasing an additional 102,101 shares during the period. Driehaus Capital Management LLC lifted its holdings in Sterling Infrastructure by 11.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company’s stock worth $63,147,000 after purchasing an additional 54,727 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in Sterling Infrastructure by 20.4% in the 1st quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock valued at $48,558,000 after purchasing an additional 74,500 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Sterling Infrastructure by 0.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 207,449 shares of the construction company’s stock valued at $24,550,000 after buying an additional 1,554 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the sale, the executive vice president now directly owns 248,471 shares in the company, valued at $35,677,950.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by insiders.

Sterling Infrastructure Price Performance

NASDAQ:STRL traded down $2.10 during trading hours on Thursday, reaching $155.03. 45,357 shares of the company were exchanged, compared to its average volume of 347,947. The company has a market capitalization of $4.78 billion, a P/E ratio of 32.67, a P/E/G ratio of 1.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day moving average of $134.66 and a 200 day moving average of $121.50. Sterling Infrastructure, Inc. has a 1-year low of $55.45 and a 1-year high of $170.50.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.43 by $0.24. The firm had revenue of $582.82 million for the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same period last year, the firm earned $1.27 EPS. Research analysts forecast that Sterling Infrastructure, Inc. will post 5.66 EPS for the current year.

Sterling Infrastructure 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.