JPMorgan Chase & Co. Reduces Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

JPMorgan Chase & Co. lessened its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 22.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 130,048 shares of the construction company's stock after selling 37,964 shares during the quarter. JPMorgan Chase & Co. owned 0.42% of Sterling Infrastructure worth $18,860,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Sterling Infrastructure by 1,088.1% in the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock worth $51,561,000 after purchasing an additional 325,620 shares during the period. International Assets Investment Management LLC raised its stake in shares of Sterling Infrastructure by 14,112.0% in the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company's stock worth $20,610,000 after buying an additional 141,120 shares during the period. Congress Asset Management Co. lifted its position in shares of Sterling Infrastructure by 19.1% during the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock valued at $93,962,000 after buying an additional 104,096 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Sterling Infrastructure by 19.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company's stock valued at $89,608,000 after acquiring an additional 102,101 shares during the period. Finally, Sei Investments Co. increased its holdings in Sterling Infrastructure by 190.0% in the 2nd quarter. Sei Investments Co. now owns 89,573 shares of the construction company's stock worth $10,600,000 after acquiring an additional 58,682 shares in the last quarter. Institutional investors 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 research report on Sunday, September 15th.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O'brien sold 2,000 shares of Sterling Infrastructure stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the transaction, the director now directly owns 25,901 shares of the company's stock, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.70% of the company's stock.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL traded down $3.53 during mid-day trading on Friday, reaching $163.52. The company's stock had a trading volume of 334,961 shares, compared to its average volume of 282,477. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. Sterling Infrastructure, Inc. has a 52 week low of $69.61 and a 52 week high of $203.49. The stock has a fifty day moving average of $181.24 and a two-hundred day moving average of $146.17. The firm has a market capitalization of $5.02 billion, a PE ratio of 27.62, a P/E/G ratio of 2.02 and a beta of 1.26.

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 (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The firm had revenue of $593.74 million for the quarter, compared to analysts' expectations of $599.90 million. During the same quarter last year, the business posted $1.26 earnings per share. As a group, sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

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.