Sterling Infrastructure, Inc. (NASDAQ:STRL) Stock Position Reduced by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,187 shares of the construction company’s stock after selling 197 shares during the quarter. New York Life Investment Management LLC’s holdings in Sterling Infrastructure were worth $808,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in STRL. McGlone Suttner Wealth Management Inc. bought a new position in Sterling Infrastructure during the 4th quarter worth $60,000. Cookson Peirce & Co. Inc. acquired a new stake in shares of Sterling Infrastructure in the 4th quarter worth about $212,000. Penobscot Investment Management Company Inc. bought a new stake in Sterling Infrastructure in the 4th quarter valued at about $220,000. OMERS ADMINISTRATION Corp acquired a new position in Sterling Infrastructure during the 3rd quarter valued at about $265,000. Finally, Mackenzie Financial Corp bought a new position in Sterling Infrastructure in the 4th quarter worth about $294,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 20,000 shares of the stock in a transaction on Monday, April 1st. The stock was 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 of the company’s stock, valued at approximately $49,196,040.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Mark D. Wolf sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $108.16, for a total value of $432,640.00. Following the sale, the general counsel now directly owns 31,048 shares in the company, 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 the SEC website. Also, CEO Joseph A. Cutillo sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was 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 owns 448,133 shares of the company’s stock, valued at $49,196,040.74. The disclosure for this sale can be found here. Insiders sold 198,172 shares of company stock worth $22,019,320 over the last ninety days. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Price Performance

Shares of STRL opened at $125.68 on Thursday. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.21. The stock’s fifty day moving average is $106.94 and its 200-day moving average is $86.86. Sterling Infrastructure, Inc. has a one year low of $41.50 and a one year high of $128.58. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.25 and a current ratio of 1.25.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.30. The company had revenue of $485.98 million for the quarter, compared to the consensus estimate of $526.90 million. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. Equities analysts anticipate that Sterling Infrastructure, Inc. will post 4.98 EPS 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.