Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Purchased by Meritage Portfolio Management

Meritage Portfolio Management increased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,777 shares of the construction company’s stock after acquiring an additional 845 shares during the quarter. Meritage Portfolio Management owned approximately 0.05% of Sterling Infrastructure worth $1,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STRL. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Sterling Infrastructure during the fourth quarter valued at approximately $60,000. Cookson Peirce & Co. Inc. acquired a new stake in Sterling Infrastructure during the 4th quarter valued at $212,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Sterling Infrastructure during the 3rd quarter valued at $265,000. GW Henssler & Associates Ltd. purchased a new position in shares of Sterling Infrastructure during the 3rd quarter valued at $267,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Sterling Infrastructure during the 4th quarter valued at $294,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock traded up $1.23 on Thursday, reaching $102.20. 305,510 shares of the stock were exchanged, compared to its average volume of 362,314. The stock has a market cap of $3.16 billion, a PE ratio of 22.69, a PEG ratio of 1.02 and a beta of 1.19. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.50. Sterling Infrastructure, Inc. has a twelve month low of $35.56 and a twelve month high of $116.36. The firm has a fifty day moving average price of $103.38 and a two-hundred day moving average price of $84.57.

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

Analyst Upgrades and Downgrades

Separately, DA Davidson reiterated 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.

Insider Buying and Selling

In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $109.78, for a total transaction of $2,195,600.00. Following the sale, the chief executive officer now directly owns 448,133 shares of the company’s stock, valued at $49,196,040.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,134 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the transaction, the general counsel now directly 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 SEC, which is available through this hyperlink. Also, CEO Joseph A. Cutillo sold 20,000 shares of the firm’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 transaction of $2,195,600.00. Following the completion of the transaction, the chief executive officer now directly owns 448,133 shares in the company, valued at $49,196,040.74. The disclosure for this sale can be found here. Insiders sold 198,172 shares of company stock valued at $22,019,320 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

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.