Fmr LLC Sells 1,715,566 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

FMR LLC decreased its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 49.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,756,087 shares of the construction company's stock after selling 1,715,566 shares during the period. FMR LLC owned 5.72% of Sterling Infrastructure worth $254,668,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of STRL. Private Trust Co. NA bought a new position in Sterling Infrastructure during the third quarter worth about $78,000. Truvestments Capital LLC raised its holdings in Sterling Infrastructure by 11.7% during the 3rd quarter. Truvestments Capital LLC now owns 5,972 shares of the construction company's stock valued at $866,000 after acquiring an additional 626 shares during the period. Loomis Sayles & Co. L P lifted its position in shares of Sterling Infrastructure by 4.9% during the third quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company's stock worth $55,248,000 after acquiring an additional 17,863 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Sterling Infrastructure in the third quarter worth $591,000. Finally, Penserra Capital Management LLC grew its position in shares of Sterling Infrastructure by 2,534.3% in the third quarter. Penserra Capital Management LLC now owns 13,988 shares of the construction company's stock valued at $2,027,000 after purchasing an additional 13,457 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insider Transactions at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the transaction, the executive vice president now directly owns 248,471 shares of the company's stock, valued at approximately $35,677,950.89. This trade represents a 7.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.70% of the stock is currently owned by insiders.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL traded up $1.85 on Monday, hitting $196.30. The company's stock had a trading volume of 186,399 shares, compared to its average volume of 352,791. The company has a market capitalization of $6.03 billion, a PE ratio of 33.53, a PEG ratio of 2.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The company has a 50-day simple moving average of $166.30 and a 200 day simple moving average of $134.81. Sterling Infrastructure, Inc. has a 1 year low of $62.66 and a 1 year 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 for the quarter, beating analysts' consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The business had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. During the same period last year, the firm posted $1.26 earnings per share. Sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.