Ausbil Investment Management Ltd Sells 14,768 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Ausbil Investment Management Ltd reduced its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRLFree Report) by 39.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,403 shares of the construction company’s stock after selling 14,768 shares during the period. Sterling Infrastructure comprises about 0.8% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 27th biggest position. Ausbil Investment Management Ltd’s holdings in Sterling Infrastructure were worth $1,250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STRL. West Oak Capital LLC raised its stake in shares of Sterling Infrastructure by 26.1% in the first quarter. West Oak Capital LLC now owns 1,450 shares of the construction company’s stock valued at $55,000 after acquiring an additional 300 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Sterling Infrastructure in the 1st quarter valued at about $38,000. Register Financial Advisors LLC raised its stake in shares of Sterling Infrastructure by 18.7% in the first quarter. Register Financial Advisors LLC now owns 17,800 shares of the construction company’s stock worth $674,000 after acquiring an additional 2,800 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Sterling Infrastructure during the fourth quarter worth approximately $237,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Sterling Infrastructure in the first quarter valued at approximately $903,000. Institutional investors own 80.89% of the company’s stock.

Sterling Infrastructure Trading Up 2.7 %

Shares of Sterling Infrastructure stock traded up $2.02 during trading on Monday, hitting $76.02. 72,350 shares of the company were exchanged, compared to its average volume of 320,138. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $2.34 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 0.91 and a beta of 1.31. The firm’s fifty day moving average price is $70.62 and its 200 day moving average price is $53.21. Sterling Infrastructure, Inc. has a 1-year low of $20.46 and a 1-year high of $84.00.

Sterling Infrastructure (NASDAQ:STRLGet Free Report) last posted its earnings results on Monday, August 7th. The construction company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.34. The firm had revenue of $522.33 million for the quarter, compared to analyst estimates of $491.50 million. Sterling Infrastructure had a return on equity of 22.25% and a net margin of 6.23%. As a group, sell-side analysts expect that Sterling Infrastructure, Inc. will post 4.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. DA Davidson raised their price target on Sterling Infrastructure from $52.00 to $65.00 in a report on Monday, July 3rd. StockNews.com started coverage on shares of Sterling Infrastructure in a research report on Thursday, August 17th. They set a “buy” rating for the company.

Check Out Our Latest Stock Report on STRL

Insider Buying and Selling

In other news, CFO Ronald A. Ballschmiede sold 100,000 shares of the stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $52.07, for a total transaction of $5,207,000.00. Following the completion of the sale, the chief financial officer now owns 272,023 shares of the company’s stock, valued at $14,164,237.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.

Sterling Infrastructure Company Profile

(Free Report)

Sterling Infrastructure, Inc engages in the e-infrastructure, transportation, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.

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Institutional Ownership by Quarter for Sterling Infrastructure (NASDAQ:STRL)

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