Townsquare Capital LLC Acquires 23,631 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)
Townsquare Capital LLC recently made a significant move by increasing its stake in Sterling Infrastructure, Inc. (NASDAQ: STRL) by a whopping 85.3% in the 3rd quarter of this year. According to the most recent disclosure with the Securities & Exchange Commission, Townsquare Capital LLC now owns 51,332 shares of the construction company’s stock, which is approximately 0.17% of Sterling Infrastructure’s total value. This brings their total investment in the company to $7,444,000.
Townsquare Capital LLC isn’t the only institutional investor making moves with Sterling Infrastructure. Several others have also adjusted their holdings. Capital Performance Advisors LLP, for example, purchased a new stake in the company in the third quarter. Similarly, Hantz Financial Services Inc., Huntington National Bank, Nisa Investment Advisors LLC, and Crewe Advisors LLC have made significant additions to their holdings, reflecting a growing interest in Sterling Infrastructure among institutional investors.
In terms of performance, Sterling Infrastructure’s stock has seen some fluctuations. It was trading at $195.41 during mid-day trading on Thursday, with 632,073 shares exchanged. The company has seen a 52-week low of $62.13 and a high of $203.49, with a market cap of $6.00 billion. Sterling Infrastructure reported earnings of $1.97 per share for the last quarter, surpassing analysts’ estimates and showing promising growth potential.
Looking ahead, analysts are optimistic about Sterling Infrastructure’s future, anticipating earnings of $5.96 per share for the current year. Despite recent insider activity, including EVP Ronald A. Ballschmiede selling 18,700 shares, confidence in the company remains steady. Sterling Infrastructure operates primarily in the United States, providing e-infrastructure, transportation, and building solutions across various sectors.
Overall, Sterling Infrastructure’s recent performance and institutional investor interest point to a company with growth potential and solid prospects for the future. It’s certainly a stock to keep an eye on in the coming months.
