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Russell Investments Group Ltd. trimmed its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL – Get Rating) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,632 shares of the construction company’s stock after selling 847 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Sterling Infrastructure worth $767,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Delphi Management Inc. MA raised its position in shares of Sterling Infrastructure by 2.1% in the 4th quarter. Delphi Management Inc. MA now owns 36,575 shares of the construction company’s stock valued at $962,000 after purchasing an additional 737 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Sterling Infrastructure by 1.0% in the 4th quarter. Teacher Retirement System of Texas now owns 112,166 shares of the construction company’s stock valued at $2,950,000 after purchasing an additional 1,060 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Sterling Infrastructure by 4.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 40,201 shares of the construction company’s stock valued at $1,077,000 after purchasing an additional 1,759 shares in the last quarter. ClariVest Asset Management LLC raised its position in shares of Sterling Infrastructure by 1.2% in the 1st quarter. ClariVest Asset Management LLC now owns 174,882 shares of the construction company’s stock valued at $4,686,000 after purchasing an additional 2,007 shares in the last quarter. Finally, Renaissance Group LLC raised its position in shares of Sterling Infrastructure by 5.8% in the 4th quarter. Renaissance Group LLC now owns 56,327 shares of the construction company’s stock valued at $1,481,000 after purchasing an additional 3,104 shares in the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, DA Davidson lowered their price target on Sterling Infrastructure to $34.00 in a report on Tuesday, August 9th.
Sterling Infrastructure Price Performance
Shares of NASDAQ STRL opened at $26.38 on Friday. Sterling Infrastructure, Inc. has a twelve month low of $20.74 and a twelve month high of $32.14. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $799.31 million, a price-to-earnings ratio of 10.19 and a beta of 1.27. The business has a 50 day simple moving average of $23.47 and a 200-day simple moving average of $25.36.
Sterling Infrastructure (NASDAQ:STRL – Get Rating) last issued its quarterly earnings results on Monday, August 1st. The construction company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. Sterling Infrastructure had a return on equity of 21.04% and a net margin of 4.33%. As a group, equities research analysts expect that Sterling Infrastructure, Inc. will post 3.03 earnings per share for the current year.
About Sterling Infrastructure
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Sterling Infrastructure, Inc engages in the transportation, e-infrastructure, 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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