Sterling Infrastructure (NASDAQ:STRL) Trading Down 3.8%

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) dropped 3.8% during mid-day trading on Friday . The company traded as low as $113.33 and last traded at $113.33. Approximately 10,374 shares were traded during trading, a decline of 97% from the average daily volume of 362,878 shares. The stock had previously closed at $117.75.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Down 1.3 %

The stock has a market capitalization of $3.59 billion, a P/E ratio of 24.16 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. The stock has a fifty day moving average price of $115.63 and a 200 day moving average price of $99.10.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Monday, May 6th. The construction company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.18. The business had revenue of $440.36 million for the quarter, compared to analysts’ expectations of $453.30 million. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. On average, research analysts forecast that Sterling Infrastructure, Inc. will post 5.3 earnings per share for the current year.

Insiders Place Their Bets

In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 40,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 566,455 shares of the company’s stock, valued at approximately $63,777,168.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Ronald A. Ballschmiede sold 3,289 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $113.52, for a total value of $373,367.28. Following the completion of the transaction, the chief financial officer now directly owns 267,171 shares in the company, valued at approximately $30,329,251.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 101,611 shares of company stock valued at $11,395,672 in the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atticus Wealth Management LLC bought a new position in Sterling Infrastructure in the 1st quarter worth $55,000. McGlone Suttner Wealth Management Inc. purchased a new position in Sterling Infrastructure in the 4th quarter worth approximately $60,000. AJOVista LLC bought a new position in Sterling Infrastructure in the 4th quarter worth approximately $91,000. Covestor Ltd grew its holdings in Sterling Infrastructure by 127.0% during the 1st quarter. Covestor Ltd now owns 867 shares of the construction company’s stock valued at $96,000 after buying an additional 485 shares in the last quarter. Finally, Tucker Asset Management LLC bought a new stake in shares of Sterling Infrastructure during the fourth quarter valued at approximately $115,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

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.