Hsbc Holdings PLC Sells 374 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Hsbc Holdings PLC cut its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,211 shares of the construction company’s stock after selling 374 shares during the period. Hsbc Holdings PLC’s holdings in Sterling Infrastructure were worth $854,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. 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 lifted its stake in Sterling Infrastructure by 391.1% during the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after purchasing an additional 219 shares during the period. Crewe Advisors LLC lifted its stake in Sterling Infrastructure by 85.4% during 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. Family Firm Inc. bought a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at approximately $38,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Sterling Infrastructure in the 2nd quarter worth approximately $40,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 248,471 shares of the company’s stock, valued at $35,677,950.89. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

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

Sterling Infrastructure Trading Down 1.8 %

Shares of Sterling Infrastructure stock opened at $143.26 on Monday. Sterling Infrastructure, Inc. has a 12-month low of $55.45 and a 12-month high of $152.00. The stock has a market capitalization of $4.42 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.16. The company has a 50-day simple moving average of $118.82 and a 200 day simple moving average of $115.81. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.24. The company had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same quarter last year, the business posted $1.27 earnings per share. Research analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

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.