State of New Jersey Common Pension Fund D Has $3.50 Million Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

State of New Jersey Common Pension Fund D raised its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 28.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,760 shares of the construction company’s stock after acquiring an additional 8,904 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.13% of Sterling Infrastructure worth $3,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STRL. Lord Abbett & CO. LLC increased its position in Sterling Infrastructure by 347.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 616,017 shares of the construction company’s stock valued at $45,265,000 after acquiring an additional 478,331 shares in the last quarter. FMR LLC grew its position in shares of Sterling Infrastructure by 45.0% during the 3rd quarter. FMR LLC now owns 847,335 shares of the construction company’s stock worth $62,262,000 after buying an additional 263,046 shares during the period. Lisanti Capital Growth LLC acquired a new stake in shares of Sterling Infrastructure during the 3rd quarter worth approximately $10,167,000. Charles Schwab Investment Management Inc. grew its position in shares of Sterling Infrastructure by 43.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 365,027 shares of the construction company’s stock worth $26,822,000 after buying an additional 110,146 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in shares of Sterling Infrastructure by 310.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 143,520 shares of the construction company’s stock worth $10,546,000 after buying an additional 108,582 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Up 3.6 %

Shares of NASDAQ:STRL opened at $105.89 on Friday. Sterling Infrastructure, Inc. has a one year low of $35.68 and a one year high of $116.36. The company has a 50 day moving average of $104.17 and a 200-day moving average of $84.92. 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 has a market cap of $3.28 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 1.03 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. The company had revenue of $485.98 million during the quarter, compared to analysts’ expectations of $526.90 million. On average, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Mark D. Wolf sold 4,000 shares of Sterling Infrastructure stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $108.16, for a total transaction of $432,640.00. Following the transaction, the general counsel now owns 31,048 shares of the company’s stock, valued at approximately $3,358,151.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Joseph A. Cutillo sold 33,214 shares of Sterling Infrastructure stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 695,245 shares of the company’s stock, valued at approximately $75,580,083.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark D. Wolf sold 4,000 shares of Sterling Infrastructure stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $108.16, for a total transaction of $432,640.00. Following the completion of the transaction, the general counsel now directly owns 31,048 shares in the company, valued at approximately $3,358,151.68. The disclosure for this sale can be found here. Insiders have sold 198,172 shares of company stock valued at $22,019,320 in the last 90 days. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a “neutral” rating and set a $115.00 price target (up previously from $86.00) on shares of Sterling Infrastructure in a research report on Wednesday, February 28th.

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.