6,906 Shares in Sterling Infrastructure, Inc. (NASDAQ:STRL) Acquired by Jennison Associates LLC

Jennison Associates LLC bought a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,906 shares of the construction company’s stock, valued at approximately $607,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of STRL. Lord Abbett & CO. LLC increased its holdings in shares of Sterling Infrastructure by 347.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 616,017 shares of the construction company’s stock worth $45,265,000 after buying an additional 478,331 shares during the last quarter. FMR LLC boosted its stake in shares of Sterling Infrastructure by 45.0% in the 3rd quarter. FMR LLC now owns 847,335 shares of the construction company’s stock valued at $62,262,000 after purchasing an additional 263,046 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in Sterling Infrastructure during the 3rd quarter valued at $10,167,000. Charles Schwab Investment Management Inc. boosted its position in Sterling Infrastructure by 43.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 365,027 shares of the construction company’s stock valued at $26,822,000 after buying an additional 110,146 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in Sterling Infrastructure by 310.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 143,520 shares of the construction company’s stock worth $10,546,000 after purchasing an additional 108,582 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,134 shares of Sterling Infrastructure stock in a transaction that occurred 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 transaction, the general counsel now owns 35,048 shares of the company’s stock, valued at $3,722,798.56. 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 business’s stock in a transaction on 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 owns 695,245 shares of the company’s stock, valued at $75,580,083.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Mark D. Wolf sold 4,134 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $106.22, for a total transaction of $439,113.48. Following the completion of the transaction, the general counsel now directly owns 35,048 shares in the company, valued at approximately $3,722,798.56. The disclosure for this sale can be found here. Insiders have sold 198,172 shares of company stock valued at $22,019,320 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Stock Performance

STRL opened at $105.89 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.06 and a beta of 1.19. The company’s 50 day moving average is $104.17 and its 200 day moving average is $85.02. Sterling Infrastructure, Inc. has a 12-month low of $35.68 and a 12-month high of $116.36.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, beating 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 business had revenue of $485.98 million for the quarter, compared to the consensus estimate of $526.90 million. On average, equities research analysts predict that Sterling Infrastructure, Inc. will post 4.98 EPS for the current year.

Wall Street Analyst Weigh In

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 report on Wednesday, February 28th.

Sterling Infrastructure 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.