Sterling Infrastructure (NASDAQ:STRL) Shares Down 3.8%

Sterling Infrastructure, Inc. (NASDAQ:STRLGet Free Report)’s share price fell 3.8% on Friday . The company traded as low as $113.33 and last traded at $113.33. 10,374 shares traded hands during trading, a decline of 97% from the average session volume of 362,878 shares. The stock had previously closed at $117.75.

Analyst Ratings Changes

Separately, DA Davidson reiterated a “neutral” rating and issued a $115.00 price objective (up from $86.00) on shares of Sterling Infrastructure in a research report on Wednesday, February 28th.

View Our Latest Research Report on Sterling Infrastructure

Sterling Infrastructure Stock Performance

The company has a 50 day moving average of $115.41 and a two-hundred day moving average of $98.50. The company has a market capitalization of $3.54 billion, a PE ratio of 24.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.25 and a quick ratio of 1.25.

Sterling Infrastructure (NASDAQ:STRLGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The construction company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.18. Sterling Infrastructure had a return on equity of 25.06% and a net margin of 7.47%. The company had revenue of $440.36 million for the quarter, compared to the consensus estimate of $453.30 million. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.3 earnings per share for the current year.

Insider Buying and Selling

In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $112.59, for a total transaction of $4,503,600.00. Following the completion of the sale, the chief executive officer now directly owns 566,455 shares in the company, valued at approximately $63,777,168.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Joseph A. Cutillo sold 20,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $109.78, for a total transaction of $2,195,600.00. Following the sale, the chief executive officer now directly owns 448,133 shares of the company’s stock, valued at $49,196,040.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph A. Cutillo sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $112.59, for a total value of $4,503,600.00. Following the completion of the transaction, the chief executive officer now directly owns 566,455 shares of the company’s stock, valued at approximately $63,777,168.45. The disclosure for this sale can be found here. Insiders have sold a total of 101,611 shares of company stock worth $11,395,672 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in STRL. Hennessy Advisors Inc. bought a new position in Sterling Infrastructure in the fourth quarter valued at about $32,156,000. FMR LLC boosted its stake in shares of Sterling Infrastructure by 45.0% during the 3rd quarter. FMR LLC now owns 847,335 shares of the construction company’s stock worth $62,262,000 after acquiring an additional 263,046 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Sterling Infrastructure by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock valued at $165,215,000 after acquiring an additional 156,225 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Sterling Infrastructure by 43.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 365,027 shares of the construction company’s stock worth $26,822,000 after purchasing an additional 110,146 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in Sterling Infrastructure by 310.8% during the third quarter. Qube Research & Technologies Ltd now owns 143,520 shares of the construction company’s stock valued at $10,546,000 after purchasing an additional 108,582 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

About Sterling Infrastructure

(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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