Verus Capital Partners LLC Decreases Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Verus Capital Partners LLC reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 4.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 20,980 shares of the construction company’s stock after selling 870 shares during the period. Verus Capital Partners LLC’s holdings in Sterling Infrastructure were worth $3,043,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Sterling Infrastructure by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company’s stock worth $208,242,000 after purchasing an additional 8,851 shares during the period. Congress Asset Management Co. lifted its position in Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after buying an additional 104,096 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in 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 buying an additional 102,101 shares during the period. Driehaus Capital Management LLC increased its position in Sterling Infrastructure by 11.4% during the second quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company’s stock valued at $63,147,000 after acquiring an additional 54,727 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after acquiring an additional 325,620 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Trading Up 0.6 %

STRL opened at $194.70 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average is $145.40 and its two-hundred day moving average is $126.62. The company has a market capitalization of $5.98 billion, a P/E ratio of 32.89, a PEG ratio of 2.18 and a beta of 1.15. Sterling Infrastructure, Inc. has a 52 week low of $62.13 and a 52 week high of $201.27.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.29. The firm had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 28.35%. During the same quarter in the prior year, the company earned $1.26 EPS. Analysts forecast that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 248,471 shares of the company’s stock, valued at $35,677,950.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by corporate insiders.

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.