Phocas Financial Corp. Sells 61,932 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Phocas Financial Corp. trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 65.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,888 shares of the construction company's stock after selling 61,932 shares during the quarter. Phocas Financial Corp. owned 0.11% of Sterling Infrastructure worth $4,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in Sterling Infrastructure by 65.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,417 shares of the construction company's stock worth $496,000 after acquiring an additional 1,347 shares during the last quarter. Pathstone Holdings LLC raised its stake in shares of Sterling Infrastructure by 157.1% during the 3rd quarter. Pathstone Holdings LLC now owns 9,900 shares of the construction company's stock worth $1,436,000 after purchasing an additional 6,049 shares during the period. Baron Wealth Management LLC bought a new stake in shares of Sterling Infrastructure during the 3rd quarter worth $305,000. Quest Partners LLC raised its stake in shares of Sterling Infrastructure by 212.4% during the 3rd quarter. Quest Partners LLC now owns 3,624 shares of the construction company's stock worth $526,000 after purchasing an additional 2,464 shares during the period. Finally, RiverPark Advisors LLC raised its stake in shares of Sterling Infrastructure by 52.2% during the 3rd quarter. RiverPark Advisors LLC now owns 1,802 shares of the construction company's stock worth $261,000 after purchasing an additional 618 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction on Thursday, September 19th. The stock was 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 owns 248,471 shares in the company, valued at approximately $35,677,950.89. The trade was a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company's stock.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock traded up $6.20 during trading on Tuesday, hitting $191.95. 180,554 shares of the stock traded hands, compared to its average volume of 350,334. 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 has a market cap of $5.89 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 2.01 and a beta of 1.15. The firm's fifty day moving average is $153.02 and its 200-day moving average is $129.58. Sterling Infrastructure, Inc. has a 52 week low of $62.13 and a 52 week high of $201.27.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $599.90 million. During the same period last year, the company earned $1.26 EPS. Research analysts expect that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Sterling Infrastructure

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.