Assenagon Asset Management S.A. Sells 185,650 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Assenagon Asset Management S.A. reduced its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 82.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,819 shares of the construction company's stock after selling 185,650 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.13% of Sterling Infrastructure worth $6,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Sterling Infrastructure by 0.5% during the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company's stock worth $104,431,000 after acquiring an additional 3,918 shares during the period. State Street Corp grew its stake in shares of Sterling Infrastructure by 0.7% during the third quarter. State Street Corp now owns 713,234 shares of the construction company's stock worth $103,433,000 after buying an additional 5,106 shares during the last quarter. Congress Asset Management Co. boosted its position in Sterling Infrastructure by 19.1% during the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock worth $93,962,000 after buying an additional 104,096 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Sterling Infrastructure by 19.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company's stock worth $89,608,000 after purchasing an additional 102,101 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its position in shares of Sterling Infrastructure by 11.4% during the second quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company's stock worth $63,147,000 after acquiring an additional 54,727 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Stock Performance

STRL stock traded up $4.03 during midday trading on Monday, hitting $182.51. The company's stock had a trading volume of 450,095 shares, compared to its average volume of 296,281. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 1.69 and a beta of 1.26. Sterling Infrastructure, Inc. has a 1 year low of $69.61 and a 1 year high of $203.49. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average price is $181.83 and its 200 day moving average price is $148.94.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS 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 company had revenue of $593.74 million for the quarter, compared to analysts' expectations of $599.90 million. During the same period in the prior year, the company posted $1.26 EPS. On average, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, William Blair initiated coverage on Sterling Infrastructure in a report on Friday. They set an "outperform" rating on the stock.

Insider Activity

In other Sterling Infrastructure news, Director Dana C. O'brien sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the sale, the director now owns 25,901 shares in the company, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.80% 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.