3,343 Shares in Sterling Infrastructure, Inc. (NASDAQ:STRL) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,343 shares of the construction company’s stock, valued at approximately $294,000.

Several other hedge funds have also recently added to or reduced their stakes in STRL. Nordea Investment Management AB bought a new stake in Sterling Infrastructure in the 4th quarter worth approximately $3,030,000. Graham Capital Management L.P. bought a new stake in shares of Sterling Infrastructure in the 3rd quarter worth approximately $782,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Sterling Infrastructure by 248.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,332 shares of the construction company’s stock valued at $2,579,000 after purchasing an additional 20,905 shares in the last quarter. Legacy Bridge LLC bought a new position in shares of Sterling Infrastructure during the 4th quarter valued at $1,541,000. Finally, Raymond James & Associates raised its position in Sterling Infrastructure by 13.4% in the 4th 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 during the period. Institutional investors 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 target (up from $86.00) on shares of Sterling Infrastructure in a research note on Wednesday, February 28th.

Insiders Place Their Bets

In other news, CEO Joseph A. Cutillo sold 33,214 shares of the company’s stock in a transaction dated 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 completion of 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 SEC, which is accessible through this hyperlink. In related news, CEO Joseph A. Cutillo sold 33,214 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $108.71, for a total transaction of $3,610,693.94. Following the transaction, the chief executive officer now owns 695,245 shares in the company, valued at approximately $75,580,083.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph A. Cutillo sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $109.78, for a total value of $2,195,600.00. Following the transaction, the chief executive officer now directly owns 448,133 shares of the company’s stock, valued at approximately $49,196,040.74. The disclosure for this sale can be found here. Insiders have sold a total of 198,172 shares of company stock valued at $22,019,320 in the last quarter. Insiders own 3.70% of the company’s stock.

Sterling Infrastructure Price Performance

STRL opened at $105.89 on Friday. 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 stock’s 50 day simple moving average is $104.17 and its 200 day simple moving average is $84.98. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.03 and a beta of 1.19. Sterling Infrastructure, Inc. has a 1 year low of $35.68 and a 1 year high of $116.36.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.30. Sterling Infrastructure had a return on equity of 24.75% and a net margin of 7.03%. The firm had revenue of $485.98 million during the quarter, compared to analyst estimates of $526.90 million. As a group, analysts predict that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current year.

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.