Two Sigma Advisers LP Sells 44,900 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Two Sigma Advisers LP decreased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 19.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,100 shares of the construction company's stock after selling 44,900 shares during the quarter. Two Sigma Advisers LP owned 0.62% of Sterling Infrastructure worth $27,568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Chartwell Investment Partners LLC grew its holdings in shares of Sterling Infrastructure by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company's stock valued at $1,299,000 after buying an additional 70 shares during the last quarter. Xponance Inc. lifted its position in Sterling Infrastructure by 5.1% during the second quarter. Xponance Inc. now owns 1,914 shares of the construction company's stock valued at $227,000 after purchasing an additional 93 shares during the period. GAMMA Investing LLC lifted its position in Sterling Infrastructure by 45.2% during the third quarter. GAMMA Investing LLC now owns 302 shares of the construction company's stock valued at $44,000 after purchasing an additional 94 shares during the period. EFG Asset Management North America Corp. lifted its position in Sterling Infrastructure by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company's stock valued at $2,985,000 after purchasing an additional 120 shares during the period. Finally, SummerHaven Investment Management LLC lifted its position in Sterling Infrastructure by 1.0% during the second quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company's stock valued at $1,539,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insiders Place Their Bets

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the sale, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 7.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Sunday, September 15th.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL traded up $1.08 during midday trading on Friday, reaching $195.74. The stock had a trading volume of 246,972 shares, compared to its average volume of 390,529. The stock has a 50-day moving average of $171.29 and a 200-day moving average of $137.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.22. Sterling Infrastructure, Inc. has a 12-month low of $66.14 and a 12-month high of $203.49.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.29. The company had revenue of $593.74 million during the quarter, compared to analysts' expectations of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same period last year, the company posted $1.26 earnings per share. As a group, research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

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.