Castleark Management LLC Decreases Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Castleark Management LLC decreased its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 51.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,656 shares of the construction company's stock after selling 20,810 shares during the quarter. Castleark Management LLC owned about 0.06% of Sterling Infrastructure worth $2,851,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its holdings in Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company's stock worth $103,433,000 after acquiring an additional 5,106 shares in the last quarter. Congress Asset Management Co. raised its position in shares of Sterling Infrastructure by 19.1% during the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock worth $93,962,000 after purchasing an additional 104,096 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Sterling Infrastructure by 19.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company's stock worth $89,608,000 after purchasing an additional 102,101 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of Sterling Infrastructure by 11.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company's stock worth $63,147,000 after purchasing an additional 54,727 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Sterling Infrastructure by 4.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company's stock valued at $55,248,000 after purchasing an additional 17,863 shares during the period. Institutional investors own 80.95% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Sunday, September 15th.

Insider Transactions at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the transaction, the executive vice president now owns 248,471 shares in the company, valued at $35,677,950.89. The trade was a 7.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.70% of the company's stock.

Sterling Infrastructure Stock Up 0.6 %

NASDAQ STRL traded up $1.08 during trading hours on Friday, hitting $195.74. The company's stock had a trading volume of 246,972 shares, compared to its average volume of 390,529. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The company's 50-day simple moving average is $171.29 and its two-hundred day simple moving average is $137.07. The company has a market capitalization of $6.01 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.22. Sterling Infrastructure, Inc. has a 52 week low of $66.14 and a 52 week high of $203.49.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.29. The company had revenue of $593.74 million for the quarter, compared to analysts' expectations of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

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.