Point72 Asset Management L.P. Has $18.06 Million Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Point72 Asset Management L.P. trimmed its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 40.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,529 shares of the construction company's stock after selling 82,920 shares during the quarter. Point72 Asset Management L.P. owned about 0.41% of Sterling Infrastructure worth $18,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of STRL. Cetera Advisors LLC lifted its position in Sterling Infrastructure by 241.9% during the 1st quarter. Cetera Advisors LLC now owns 8,885 shares of the construction company's stock worth $980,000 after acquiring an additional 6,286 shares during the last quarter. CWM LLC boosted its stake in Sterling Infrastructure by 5.6% during the 2nd quarter. CWM LLC now owns 3,230 shares of the construction company's stock valued at $382,000 after purchasing an additional 172 shares during the period. OLD National Bancorp IN acquired a new stake in Sterling Infrastructure in the 2nd quarter valued at approximately $265,000. Opal Wealth Advisors LLC bought a new position in Sterling Infrastructure in the 2nd quarter worth approximately $40,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Sterling Infrastructure by 270.2% during the second quarter. SG Americas Securities LLC now owns 36,338 shares of the construction company's stock worth $4,300,000 after buying an additional 26,521 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL traded up $1.08 on Friday, hitting $195.74. 246,972 shares of the company were exchanged, compared to its average volume of 390,529. Sterling Infrastructure, Inc. has a one year low of $66.14 and a one year high of $203.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 2.22 and a beta of 1.22. The company's 50 day moving average price is $171.29 and its two-hundred day moving average price is $137.03.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. The business had revenue of $593.74 million for the quarter, compared to analysts' expectations of $599.90 million. During the same quarter in the previous year, the business posted $1.26 EPS. Research analysts expect 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 Activity

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 248,471 shares in the company, valued at $35,677,950.89. The trade was a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.