Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC cut its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 36.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,242 shares of the construction company’s stock after selling 8,570 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Sterling Infrastructure were worth $2,210,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STRL. Allspring Global Investments Holdings LLC raised its holdings in Sterling Infrastructure by 691.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock worth $61,040,000 after purchasing an additional 450,620 shares during the last quarter. F M Investments LLC purchased a new position in Sterling Infrastructure during the second quarter worth $18,379,000. International Assets Investment Management LLC increased its position in Sterling Infrastructure by 14,112.0% during the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock worth $20,610,000 after buying an additional 141,120 shares in the last quarter. Congress Asset Management Co. increased its position in Sterling Infrastructure by 19.1% during the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after buying an additional 104,096 shares in the last quarter. Finally, Sei Investments Co. increased its position in Sterling Infrastructure by 190.0% during the second quarter. Sei Investments Co. now owns 89,573 shares of the construction company’s stock worth $10,600,000 after buying an additional 58,682 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure 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 completion of the sale, the executive vice president now owns 248,471 shares of the company’s stock, valued at $35,677,950.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock opened at $153.66 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day moving average of $139.47 and a two-hundred day moving average of $123.39. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 1.81 and a beta of 1.17. Sterling Infrastructure, Inc. has a fifty-two week low of $55.45 and a fifty-two week high of $170.50.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data 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 the consensus estimate of $553.70 million. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. During the same quarter in the previous year, the business earned $1.27 earnings per share. On average, analysts anticipate that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.