Hennessy Advisors Inc. Acquires 74,500 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Hennessy Advisors Inc. lifted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 20.4% during the first quarter, HoldingsChannel reports. The firm owned 440,200 shares of the construction company’s stock after buying an additional 74,500 shares during the quarter. Sterling Infrastructure comprises 2.0% of Hennessy Advisors Inc.’s portfolio, making the stock its 6th largest holding. Hennessy Advisors Inc.’s holdings in Sterling Infrastructure were worth $48,558,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Sterling Infrastructure by 60.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 53,000 shares of the construction company’s stock worth $4,660,000 after acquiring an additional 20,000 shares during the period. Nordea Investment Management AB acquired a new stake in shares of Sterling Infrastructure during the fourth quarter worth $3,030,000. Graham Capital Management L.P. acquired a new stake in shares of Sterling Infrastructure during the third quarter worth $782,000. Seizert Capital Partners LLC raised its holdings in shares of Sterling Infrastructure by 21.3% during the fourth quarter. Seizert Capital Partners LLC now owns 40,868 shares of the construction company’s stock worth $3,594,000 after acquiring an additional 7,177 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Sterling Infrastructure by 248.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,332 shares of the construction company’s stock worth $2,579,000 after acquiring an additional 20,905 shares during the period. 80.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 20,000 shares of Sterling Infrastructure stock in a transaction on Monday, April 1st. The shares were sold at an average price of $109.78, for a total value of $2,195,600.00. Following the sale, the chief executive officer now directly owns 448,133 shares in the company, valued at approximately $49,196,040.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Down 2.0 %

Shares of NASDAQ:STRL traded down $2.34 during midday trading on Friday, reaching $116.99. 195,459 shares of the company were exchanged, compared to its average volume of 363,534. Sterling Infrastructure, Inc. has a fifty-two week low of $53.97 and a fifty-two week high of $137.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $117.09 and a two-hundred day simple moving average of $100.27. The firm has a market cap of $3.61 billion, a PE ratio of 25.36 and a beta of 1.21.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, May 6th. The construction company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.18. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. The firm had revenue of $440.36 million for the quarter, compared to analyst estimates of $453.30 million. As a group, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.3 earnings per share for the current year.

Sterling Infrastructure Company 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.