Fmr LLC Reduces Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Fmr LLC trimmed its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 49.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,756,087 shares of the construction company’s stock after selling 1,715,566 shares during the period. Fmr LLC owned 5.72% of Sterling Infrastructure worth $254,668,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in Sterling Infrastructure in the third quarter worth about $26,000. Hantz Financial Services Inc. purchased a new stake in Sterling Infrastructure in the 2nd quarter worth approximately $30,000. Huntington National Bank raised its stake in Sterling Infrastructure by 21,300.0% during the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after acquiring an additional 213 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Sterling Infrastructure by 391.1% during the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after purchasing an additional 219 shares in the last quarter. Finally, Crewe Advisors LLC boosted its position in shares of Sterling Infrastructure by 85.4% in the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock worth $35,000 after purchasing an additional 135 shares during the period. 80.95% of the stock is owned by institutional investors.

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 Sterling Infrastructure stock opened at $194.45 on Monday. 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 52 week low of $62.13 and a 52 week high of $203.49. The stock’s 50-day simple moving average is $166.30 and its 200-day simple moving average is $134.81. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 2.18 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.29. The business had revenue of $593.74 million during the quarter, compared to the consensus estimate 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 company posted $1.26 EPS. As a group, analysts expect that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the sale, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. The trade was a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.

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.