WCM Investment Management LLC Makes New Investment in Sterling Infrastructure, Inc. (NASDAQ:STRL)

WCM Investment Management LLC bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 105,745 shares of the construction company’s stock, valued at approximately $18,019,000.

Several other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of 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 buying an additional 325,620 shares in the last quarter. International Assets Investment Management LLC raised its position in Sterling Infrastructure by 14,112.0% in the 3rd quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock valued at $20,610,000 after purchasing an additional 141,120 shares during the last quarter. Congress Asset Management Co. boosted its stake 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 purchasing an additional 104,096 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Sterling Infrastructure by 58.9% in the third quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company’s stock valued at $18,682,000 after buying an additional 47,734 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now owns 25,901 shares of the company’s stock, valued at $4,555,726.89. This represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Sterling Infrastructure Trading Up 0.9 %

Shares of STRL opened at $149.72 on Friday. The stock’s fifty day simple moving average is $172.14 and its 200-day simple moving average is $152.86. The firm has a market capitalization of $4.60 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. Sterling Infrastructure, Inc. has a 12-month low of $76.01 and a 12-month high of $206.07. 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 issued its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm earned $1.26 EPS. As a group, research analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Thursday. William Blair initiated coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating on the stock.

About Sterling Infrastructure

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.