Royce & Associates LP Trims Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Royce & Associates LP lowered its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,668 shares of the construction company's stock after selling 6,010 shares during the period. Royce & Associates LP owned 0.22% of Sterling Infrastructure worth $9,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Sterling Infrastructure during the third quarter worth about $26,000. Hantz Financial Services Inc. acquired a new stake in shares of Sterling Infrastructure during the second quarter worth $30,000. Huntington National Bank lifted its stake in shares of Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company's stock worth $31,000 after acquiring an additional 213 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Sterling Infrastructure by 391.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company's stock valued at $33,000 after purchasing an additional 219 shares in the last quarter. Finally, Crewe Advisors LLC increased its position in Sterling Infrastructure by 85.4% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company's stock worth $35,000 after purchasing an additional 135 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Price Performance

Sterling Infrastructure stock traded up $5.72 during mid-day trading on Monday, reaching $185.75. The company had a trading volume of 324,033 shares, compared to its average volume of 351,095. The stock's 50-day simple moving average is $153.02 and its 200-day simple moving average is $129.58. Sterling Infrastructure, Inc. has a 1 year low of $62.13 and a 1 year high of $201.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.24. The company has a market capitalization of $5.70 billion, a P/E ratio of 31.06, a P/E/G ratio of 2.01 and a beta of 1.15.

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. The firm had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same period last year, the business posted $1.26 EPS. On average, equities analysts predict that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Insider Transactions at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were 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 directly owns 248,471 shares of the company's stock, valued at $35,677,950.89. This trade represents a 7.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.70% of the company's stock.

Sterling Infrastructure Company 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.