Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $175.42, but opened at $157.88. Sterling Infrastructure shares last traded at $157.16, with a volume of 115,116 shares traded.
Analyst Ratings Changes
Separately, StockNews.com lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Sunday, September 15th.
Read Our Latest Stock Analysis on STRL
Sterling Infrastructure Stock Down 1.8 %
The business's 50-day moving average price is $142.81 and its 200-day moving average price is $125.26. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $5.29 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.79 and a beta of 1.15.
Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.24. The business had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same period in the prior year, the firm earned $1.27 earnings per share. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.
Insider Activity at Sterling Infrastructure
In related 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 transaction, the executive vice president now owns 248,471 shares of the company's stock, valued at approximately $35,677,950.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.80% of the company's stock.
Hedge Funds Weigh In On Sterling Infrastructure
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Sterling Infrastructure by 0.5% in the first quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company's stock valued at $208,242,000 after purchasing an additional 8,851 shares during the period. Congress Asset Management Co. raised its position in shares of Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock valued at $93,962,000 after purchasing an additional 104,096 shares during the period. Allspring Global Investments Holdings LLC raised its position 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 valued at $89,608,000 after purchasing an additional 102,101 shares during the period. Driehaus Capital Management LLC raised its position in shares of Sterling Infrastructure by 11.4% in the second quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company's stock valued at $63,147,000 after purchasing an additional 54,727 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock valued at $51,561,000 after purchasing an additional 325,620 shares during the period. Institutional investors own 80.95% of the company's stock.
Sterling Infrastructure Company Profile
(
Get Free Report)
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.
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