Raymond James & Associates Sells 7,844 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Raymond James & Associates lowered its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 19.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,480 shares of the construction company's stock after selling 7,844 shares during the quarter. Raymond James & Associates owned 0.10% of Sterling Infrastructure worth $4,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STRL. Vanguard Group Inc. boosted its position in shares of Sterling Infrastructure by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company's stock valued at $208,242,000 after buying an additional 8,851 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Sterling Infrastructure by 11.4% in the second 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Sterling Infrastructure by 691.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company's stock worth $61,040,000 after purchasing an additional 450,620 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Sterling Infrastructure by 0.8% in the second quarter. Point72 Asset Management L.P. now owns 207,449 shares of the construction company's stock worth $24,550,000 after purchasing an additional 1,554 shares during the last quarter. Finally, F M Investments LLC purchased a new position in Sterling Infrastructure in the second quarter worth about $18,379,000. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL traded down $0.79 during trading on Friday, hitting $153.66. The company had a trading volume of 242,079 shares, compared to its average volume of 326,222. The stock has a 50 day simple moving average of $140.18 and a 200 day simple moving average of $124.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24. Sterling Infrastructure, Inc. has a 12 month low of $55.45 and a 12 month high of $170.50. The firm has a market capitalization of $4.72 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.43 by $0.24. The firm had revenue of $582.82 million for the quarter, compared to the consensus estimate of $553.70 million. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. During the same quarter last year, the company earned $1.27 earnings per share. As a group, analysts anticipate that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm'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 transaction of $2,685,133.00. Following the completion of the transaction, the executive vice president now owns 248,471 shares in the company, valued at $35,677,950.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is owned by corporate insiders.

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.