EFG Asset Management North America Corp. Sells 10,106 Shares of Sterling Infrastructure, Inc. $STRL

EFG Asset Management North America Corp. decreased its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 28.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,740 shares of the construction company’s stock after selling 10,106 shares during the period. Sterling Infrastructure comprises about 0.8% of EFG Asset Management North America Corp.’s holdings, making the stock its 27th largest holding. EFG Asset Management North America Corp. owned about 0.08% of Sterling Infrastructure worth $5,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in STRL. Millennium Management LLC increased its position in Sterling Infrastructure by 743.9% in the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock valued at $55,857,000 after acquiring an additional 434,925 shares during the period. Pacer Advisors Inc. acquired a new position in Sterling Infrastructure in the 1st quarter valued at approximately $28,689,000. Amanah Holdings Trust acquired a new position in Sterling Infrastructure in the 2nd quarter valued at approximately $44,527,000. Nuveen LLC acquired a new position in Sterling Infrastructure in the 1st quarter valued at approximately $19,741,000. Finally, Vanguard Group Inc. increased its position in shares of Sterling Infrastructure by 6.3% during the first quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company’s stock worth $303,742,000 after buying an additional 159,191 shares during the period. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Down 2.6%

Sterling Infrastructure stock opened at $382.57 on Wednesday. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $419.14. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 41.58, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39. The firm’s fifty day moving average price is $339.46 and its two-hundred day moving average price is $263.19. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. The firm had revenue of $403.58 million for the quarter. On average, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on STRL shares. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. DA Davidson increased their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Sterling Infrastructure currently has an average rating of “Moderate Buy” and a consensus target price of $355.00.

About Sterling Infrastructure

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.