Chartwell Investment Partners LLC Has $1.30 Million Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Chartwell Investment Partners LLC lifted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,958 shares of the construction company’s stock after buying an additional 70 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Sterling Infrastructure were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of STRL. Allspring Global Investments Holdings LLC lifted its stake in shares of Sterling Infrastructure by 691.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock worth $61,040,000 after buying an additional 450,620 shares during the last quarter. Principal Financial Group Inc. increased its position in Sterling Infrastructure by 1,088.1% during the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after acquiring an additional 325,620 shares during the period. F M Investments LLC bought a new position in Sterling Infrastructure during the second quarter worth $18,379,000. International Assets Investment Management LLC increased its position in Sterling Infrastructure by 14,112.0% during the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock worth $20,610,000 after acquiring an additional 141,120 shares during the period. Finally, Congress Asset Management Co. increased its position in Sterling Infrastructure by 19.1% during the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after acquiring an additional 104,096 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Trading Down 1.6 %

Shares of Sterling Infrastructure stock opened at $191.50 on Wednesday. The firm has a market capitalization of $5.89 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. 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 company’s fifty day moving average price is $148.59 and its two-hundred day moving average price is $127.87. Sterling Infrastructure, Inc. has a 52-week low of $62.13 and a 52-week high of $201.27.

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 the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 28.35%. The business 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 firm earned $1.26 EPS. On average, analysts expect that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Insider Buying and Selling

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 248,471 shares in the company, valued at $35,677,950.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research 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.