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 lifted its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 28.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,760 shares of the construction company’s stock after buying an additional 8,904 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Sterling Infrastructure were worth $3,496,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Sterling Infrastructure during the 4th quarter worth approximately $60,000. Cookson Peirce & Co. Inc. acquired a new stake in shares of Sterling Infrastructure during the 4th quarter worth approximately $212,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Sterling Infrastructure during the 3rd quarter worth approximately $265,000. GW Henssler & Associates Ltd. acquired a new stake in shares of Sterling Infrastructure during the 3rd quarter worth approximately $267,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Sterling Infrastructure during the 4th quarter worth approximately $294,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of STRL opened at $105.89 on Friday. Sterling Infrastructure, Inc. has a 12-month low of $35.68 and a 12-month high of $116.36. The business’s fifty day moving average is $104.17 and its 200 day moving average is $84.92. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.50. The stock has a market cap of $3.28 billion, a P/E 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 earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.30. Sterling Infrastructure had a return on equity of 24.75% and a net margin of 7.03%. The company had revenue of $485.98 million for the quarter, compared to analysts’ expectations of $526.90 million. Sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Mark D. Wolf sold 4,134 shares of the stock in a transaction on Tuesday, February 27th. The stock was 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 in the company, valued at approximately $3,722,798.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Sterling Infrastructure news, CFO Ronald A. Ballschmiede sold 13,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $109.66, for a total transaction of $1,425,580.00. Following the transaction, the chief financial officer now directly owns 270,460 shares in the company, valued at approximately $29,658,643.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Mark D. Wolf sold 4,134 shares of the firm’s stock in a transaction 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 owns 35,048 shares in the company, valued at $3,722,798.56. The disclosure for this sale can be found here. Insiders have sold a total of 198,172 shares of company stock worth $22,019,320 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.