Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Acquired by Cynosure Group LLC

Cynosure Group LLC boosted its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 63.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,201 shares of the construction company’s stock after acquiring an additional 2,022 shares during the period. Cynosure Group LLC’s holdings in Sterling Infrastructure were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of Sterling Infrastructure during the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. purchased a new position in Sterling Infrastructure during the second quarter worth $30,000. Huntington National Bank raised its holdings in shares of Sterling Infrastructure by 21,300.0% in the third quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after acquiring an additional 213 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Sterling Infrastructure by 391.1% during the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after purchasing an additional 219 shares during the last quarter. Finally, Crewe Advisors LLC grew its stake in shares of Sterling Infrastructure by 85.4% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after buying an additional 135 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Price Performance

STRL opened at $199.03 on Wednesday. The company has a 50 day moving average of $163.21 and a two-hundred day moving average of $133.44. The company has a market cap of $6.11 billion, a P/E ratio of 33.62, a P/E/G ratio of 2.20 and a beta of 1.15. Sterling Infrastructure, Inc. has a 52-week low of $62.13 and a 52-week high of $203.49. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.29. The firm had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same quarter in the previous year, the firm posted $1.26 EPS. On average, analysts expect that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at $35,677,950.89. This represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.80% of the company’s stock.

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.