Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 50.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,341 shares of the construction company’s stock after selling 15,655 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sterling Infrastructure were worth $1,815,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Hantz Financial Services Inc. acquired a new position in shares of Sterling Infrastructure in the 2nd quarter valued at $30,000. Nisa Investment Advisors LLC boosted its stake in Sterling Infrastructure by 391.1% in the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after acquiring an additional 219 shares in the last quarter. Crewe Advisors LLC boosted its stake in Sterling Infrastructure by 85.4% in the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Sterling Infrastructure during the second quarter worth about $38,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Sterling Infrastructure during the second quarter worth about $40,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock opened at $148.90 on Tuesday. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.38 and a beta of 1.16. The firm’s fifty day simple moving average is $116.67 and its 200-day simple moving average is $114.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. Sterling Infrastructure, Inc. has a 12 month low of $55.45 and a 12 month high of $152.00.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. The business had revenue of $582.82 million during the quarter, compared to analysts’ expectations 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 company earned $1.27 earnings per share. As a group, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Sunday, September 15th.

Insider Buying and Selling at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction 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 $35,677,950.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% 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.