Mesirow Financial Investment Management Inc. Sells 1,279 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Mesirow Financial Investment Management Inc. lessened its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 32.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,704 shares of the construction company’s stock after selling 1,279 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Sterling Infrastructure were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Atria Investments Inc increased its position in shares of Sterling Infrastructure by 10.7% during the 3rd quarter. Atria Investments Inc now owns 6,594 shares of the construction company’s stock valued at $956,000 after purchasing an additional 636 shares during the last quarter. Assetmark Inc. raised its stake in shares of Sterling Infrastructure by 357.6% during the third quarter. Assetmark Inc. now owns 1,121 shares of the construction company’s stock worth $163,000 after acquiring an additional 876 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Sterling Infrastructure in the 3rd quarter worth approximately $1,037,000. Capital Performance Advisors LLP purchased a new stake in shares of Sterling Infrastructure in the 3rd quarter valued at $26,000. Finally, Portside Wealth Group LLC boosted its stake in shares of Sterling Infrastructure by 71.7% in the 3rd quarter. Portside Wealth Group LLC now owns 4,636 shares of the construction company’s stock valued at $672,000 after purchasing an additional 1,936 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Up 0.6 %

NASDAQ:STRL opened at $194.70 on Tuesday. The firm has a market capitalization of $5.98 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.18 and a beta of 1.15. Sterling Infrastructure, Inc. has a 52 week low of $62.13 and a 52 week high of $201.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $145.40 and a 200 day moving average of $126.62.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 28.35% and a net margin of 8.77%. The company had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. During the same quarter in the previous year, the business earned $1.26 EPS. On average, research analysts predict that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the sale, the executive vice president now owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.