Meritage Portfolio Management Buys 845 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Meritage Portfolio Management boosted its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 5.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,777 shares of the construction company’s stock after purchasing an additional 845 shares during the period. Meritage Portfolio Management’s holdings in Sterling Infrastructure were worth $1,387,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC grew its position in Sterling Infrastructure by 45.0% during the third quarter. FMR LLC now owns 847,335 shares of the construction company’s stock valued at $62,262,000 after buying an additional 263,046 shares during the period. Lord Abbett & CO. LLC boosted its position in Sterling Infrastructure by 347.4% during the third quarter. Lord Abbett & CO. LLC now owns 616,017 shares of the construction company’s stock worth $45,265,000 after purchasing an additional 478,331 shares during the period. Congress Asset Management Co. MA boosted its position in Sterling Infrastructure by 6.3% during the third quarter. Congress Asset Management Co. MA now owns 549,375 shares of the construction company’s stock worth $40,368,000 after purchasing an additional 32,597 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Sterling Infrastructure by 11.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,659 shares of the construction company’s stock worth $34,364,000 after purchasing an additional 47,327 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Sterling Infrastructure by 43.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 365,027 shares of the construction company’s stock worth $26,822,000 after purchasing an additional 110,146 shares during the period. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of STRL stock traded up $1.23 during trading hours on Thursday, hitting $102.20. 305,510 shares of the company’s stock were exchanged, compared to its average volume of 362,314. The company has a market capitalization of $3.16 billion, a PE ratio of 22.69, a PEG ratio of 1.02 and a beta of 1.19. Sterling Infrastructure, Inc. has a 12-month low of $35.56 and a 12-month high of $116.36. The business’s 50 day simple moving average is $103.38 and its 200-day simple moving average is $84.57. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.50.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 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 the consensus estimate of $526.90 million. On average, equities research analysts anticipate that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 4,134 shares of Sterling Infrastructure stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the sale, the general counsel now owns 35,048 shares in the company, valued at $3,722,798.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, General Counsel Mark D. Wolf sold 4,134 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total transaction of $439,113.48. Following the sale, the general counsel now owns 35,048 shares in the company, valued at approximately $3,722,798.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joseph A. Cutillo sold 33,214 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $108.71, for a total transaction of $3,610,693.94. Following the sale, the chief executive officer now owns 695,245 shares in the company, valued at approximately $75,580,083.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,172 shares of company stock worth $22,019,320. Insiders own 3.70% of the company’s stock.

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.