Sterling Infrastructure, Inc. (NASDAQ:STRL) Short Interest Update

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 1,040,000 shares, a decline of 23.0% from the October 15th total of 1,350,000 shares. Based on an average daily trading volume, of 304,000 shares, the short-interest ratio is presently 3.4 days.

Sterling Infrastructure Trading Down 1.3 %

Shares of NASDAQ STRL traded down $2.36 on Friday, reaching $180.03. 375,533 shares of the company traded hands, compared to its average volume of 351,217. Sterling Infrastructure has a fifty-two week low of $62.13 and a fifty-two week high of $201.27. The company has a 50 day moving average of $153.02 and a 200 day moving average of $129.37. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $5.53 billion, a PE ratio of 30.41, a P/E/G ratio of 2.09 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.29. The company had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same quarter in the prior year, the company posted $1.26 EPS. On average, equities research analysts forecast that Sterling Infrastructure will post 5.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company's stock.

Institutional Trading of Sterling Infrastructure

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Chartwell Investment Partners LLC grew its position in Sterling Infrastructure by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company's stock valued at $1,299,000 after acquiring an additional 70 shares in the last quarter. Xponance Inc. lifted its stake in Sterling Infrastructure by 5.1% during the second quarter. Xponance Inc. now owns 1,914 shares of the construction company's stock worth $227,000 after purchasing an additional 93 shares during the last quarter. GAMMA Investing LLC lifted its stake in Sterling Infrastructure by 45.2% in the third quarter. GAMMA Investing LLC now owns 302 shares of the construction company's stock valued at $44,000 after buying an additional 94 shares during the last quarter. EFG Asset Management North America Corp. lifted its stake in Sterling Infrastructure by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company's stock valued at $2,985,000 after buying an additional 120 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its stake in Sterling Infrastructure by 1.0% in the second quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company's stock valued at $1,539,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Analyst Upgrades and Downgrades

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

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.