RiverPark Advisors LLC Buys 618 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

RiverPark Advisors LLC boosted its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 52.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,802 shares of the construction company’s stock after purchasing an additional 618 shares during the period. RiverPark Advisors LLC’s holdings in Sterling Infrastructure were worth $261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Robeco Schweiz AG bought a new position in Sterling Infrastructure in the 2nd quarter valued at approximately $1,420,000. Virtu Financial LLC acquired a new position in Sterling Infrastructure in the 1st quarter valued at approximately $1,138,000. Seven Eight Capital LP acquired a new position in Sterling Infrastructure in the 1st quarter valued at approximately $1,689,000. Truvestments Capital LLC acquired a new stake in shares of Sterling Infrastructure during the first quarter worth $490,000. Finally, Csenge Advisory Group acquired a new stake in shares of Sterling Infrastructure during the second quarter worth $2,048,000. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Down 1.3 %

STRL opened at $180.03 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.53 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. The company has a fifty day moving average of $153.02 and a 200-day moving average of $129.37. Sterling Infrastructure, Inc. has a twelve month low of $62.13 and a twelve month high of $201.27.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.29. The business had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same period last year, the company posted $1.26 earnings per share. On average, sell-side analysts predict that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Sunday, September 15th.

Insiders Place Their Bets

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the transaction, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. This trade represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.