Franklin Resources Inc. Sells 19,973 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Franklin Resources Inc. lessened its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 28.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 50,736 shares of the construction company’s stock after selling 19,973 shares during the period. Franklin Resources Inc. owned approximately 0.17% of Sterling Infrastructure worth $8,101,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Chartwell Investment Partners LLC raised its position in Sterling Infrastructure by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock valued at $1,299,000 after purchasing an additional 70 shares in the last quarter. Xponance Inc. grew its holdings in shares of Sterling Infrastructure by 5.1% during the second quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock valued at $227,000 after buying an additional 93 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Sterling Infrastructure by 45.2% in the third quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock valued at $44,000 after purchasing an additional 94 shares during the period. Crewe Advisors LLC raised its position in Sterling Infrastructure by 85.4% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Sterling Infrastructure by 510.7% during the third quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Up 0.3 %

STRL stock opened at $175.20 on Monday. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.11 and a beta of 1.22. The business’s 50-day moving average is $177.30 and its 200 day moving average is $141.21. Sterling Infrastructure, Inc. has a 12-month low of $69.61 and a 12-month high of $203.49. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

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 firm had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same period last year, the firm posted $1.26 earnings per share. On average, sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the sale, the director now owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.