Oppenheimer & Co. Inc. Has $1.01 Million Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Oppenheimer & Co. Inc. cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 21.1% in the third quarter, Holdings Channel.com reports. The firm owned 6,975 shares of the construction company’s stock after selling 1,863 shares during the period. Oppenheimer & Co. Inc.’s holdings in Sterling Infrastructure were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of STRL. Chartwell Investment Partners LLC lifted its stake in shares of Sterling Infrastructure by 0.8% in 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 period. Xponance Inc. lifted its position in shares of Sterling Infrastructure by 5.1% in the 2nd quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock worth $227,000 after acquiring an additional 93 shares during the period. GAMMA Investing LLC grew its holdings in shares of Sterling Infrastructure by 45.2% during the 3rd quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock worth $44,000 after purchasing an additional 94 shares in the last quarter. EFG Asset Management North America Corp. increased its position in shares of 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 raised its stake in shares of Sterling Infrastructure by 1.0% in 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 in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Performance

NASDAQ:STRL opened at $192.97 on Wednesday. The firm has a market capitalization of $5.93 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a 12-month low of $62.13 and a 12-month high of $201.27. The firm has a 50-day moving average price of $154.54 and a 200 day moving average price of $130.18.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.29. The business had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same period in the prior year, the firm posted $1.26 EPS. Research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction dated Thursday, September 19th. The shares were 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. This trade represents a 7.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.80% of the company’s stock.

Sterling Infrastructure 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.