Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.2% - Here's What Happened

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) was down 5.2% during mid-day trading on Thursday . The company traded as low as $132.48 and last traded at $133.03. Approximately 111,473 shares were traded during trading, a decline of 75% from the average daily volume of 448,602 shares. The stock had previously closed at $140.40.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com cut Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. William Blair started coverage on Sterling Infrastructure in a research report on Friday, January 17th. They issued an "outperform" rating on the stock.

Sterling Infrastructure Price Performance

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 company has a market cap of $4.07 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.53 and a beta of 1.24. The stock's 50-day simple moving average is $165.50 and its 200 day simple moving average is $154.43.

Insider Transactions at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 2,000 shares of Sterling Infrastructure stock in a transaction 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 directly owns 25,901 shares of the company's stock, 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 filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Sterling Infrastructure

Several hedge funds have recently bought and sold shares of STRL. Vanguard Group Inc. grew its position in Sterling Infrastructure by 30.0% in the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock valued at $425,135,000 after acquiring an additional 581,847 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Sterling Infrastructure by 22.5% in the fourth quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock valued at $127,563,000 after purchasing an additional 139,081 shares in the last quarter. Geode Capital Management LLC increased its stake in Sterling Infrastructure by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company's stock worth $104,431,000 after buying an additional 3,918 shares during the period. State Street Corp lifted its holdings in Sterling Infrastructure by 0.7% during the 3rd 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Sterling Infrastructure by 7.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company's stock valued at $111,873,000 after buying an additional 49,008 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

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.