Ellsworth Advisors LLC Has $917,000 Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Ellsworth Advisors LLC lessened its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 2.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,425 shares of the construction company’s stock after selling 262 shares during the quarter. Ellsworth Advisors LLC’s holdings in Sterling Infrastructure were worth $917,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Legacy Bridge LLC bought a new stake in shares of Sterling Infrastructure in the fourth quarter worth $1,541,000. ZRC Wealth Management LLC bought a new stake in shares of Sterling Infrastructure in the fourth quarter worth $461,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Sterling Infrastructure by 248.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,332 shares of the construction company’s stock worth $2,579,000 after purchasing an additional 20,905 shares in the last quarter. Raymond James & Associates lifted its position in shares of Sterling Infrastructure by 13.4% in the fourth quarter. Raymond James & Associates now owns 31,266 shares of the construction company’s stock worth $2,749,000 after purchasing an additional 3,690 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in shares of Sterling Infrastructure in the fourth quarter worth $3,030,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “neutral” rating and issued a $115.00 price objective (up previously from $86.00) on shares of Sterling Infrastructure in a research report on Wednesday, February 28th.

Sterling Infrastructure Stock Performance

NASDAQ STRL traded down $3.12 on Friday, hitting $110.31. 607,362 shares of the stock were exchanged, compared to its average volume of 347,034. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.25. The business’s fifty day moving average is $93.52 and its 200 day moving average is $80.56. Sterling Infrastructure, Inc. has a 52 week low of $34.23 and a 52 week high of $116.36. The company has a market capitalization of $3.41 billion, a PE ratio of 24.79, a P/E/G ratio of 1.14 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. The firm had revenue of $485.98 million for the quarter, compared to analyst estimates of $526.90 million. Research analysts anticipate that Sterling Infrastructure, Inc. will post 4.98 EPS for the current fiscal year.

Insider Activity

In other news, CEO Joseph A. Cutillo sold 33,214 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $108.71, for a total value of $3,610,693.94. Following the transaction, the chief executive officer now directly owns 695,245 shares of the company’s stock, valued at $75,580,083.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Joseph A. Cutillo sold 33,214 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $108.71, for a total value of $3,610,693.94. Following the transaction, the chief executive officer now directly owns 695,245 shares of the company’s stock, valued at $75,580,083.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark D. Wolf sold 1,500 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $110.90, for a total transaction of $166,350.00. Following the completion of the transaction, the general counsel now directly owns 29,548 shares in the company, valued at $3,276,873.20. The disclosure for this sale can be found here. Insiders have sold 178,172 shares of company stock valued at $19,823,720 over the last ninety days. 3.70% of the stock is currently owned by company insiders.

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.