Principal Financial Group Inc. Acquires 325,620 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Principal Financial Group Inc. raised its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 1,088.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 355,546 shares of the construction company’s stock after buying an additional 325,620 shares during the quarter. Principal Financial Group Inc. owned 1.16% of Sterling Infrastructure worth $51,561,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Chartwell Investment Partners LLC lifted its position in shares of Sterling Infrastructure by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock valued at $1,299,000 after acquiring an additional 70 shares during the period. Xponance Inc. raised its holdings in shares of Sterling Infrastructure by 5.1% during the second quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock valued at $227,000 after purchasing an additional 93 shares during the period. GAMMA Investing LLC boosted its position in shares of Sterling Infrastructure by 45.2% during the 3rd quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock worth $44,000 after purchasing an additional 94 shares in the last quarter. Crewe Advisors LLC grew its stake in shares of Sterling Infrastructure by 85.4% in 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. Finally, Quarry LP increased its position in Sterling Infrastructure by 510.7% in the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock valued at $25,000 after buying an additional 143 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Stock Performance

STRL opened at $175.20 on Monday. Sterling Infrastructure, Inc. has a 1-year low of $69.61 and a 1-year high of $203.49. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.11 and a beta of 1.22. The company’s fifty day moving average price is $177.30 and its two-hundred day moving average price is $141.21. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

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

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the transaction, the director now directly owns 25,901 shares of the company’s stock, valued at $4,555,726.89. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.