Sterling Infrastructure (NASDAQ:STRL) Shares Down 5.9% – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price fell 5.9% during mid-day trading on Tuesday . The company traded as low as $161.75 and last traded at $167.66. 141,221 shares were traded during trading, a decline of 35% from the average session volume of 217,911 shares. The stock had previously closed at $178.15.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Performance

The firm has a market capitalization of $5.13 billion, a PE ratio of 28.22, a P/E/G ratio of 2.02 and a beta of 1.26. The business has a 50-day simple moving average of $180.98 and a 200-day simple moving average of $146.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

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

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the sale, the director now owns 25,901 shares in the company, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after buying an additional 5,106 shares in the last quarter. Robeco Schweiz AG bought a new stake in shares of Sterling Infrastructure during the second quarter valued at approximately $1,420,000. Principal Financial Group Inc. boosted its holdings in shares of Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after purchasing an additional 325,620 shares during the period. Algert Global LLC increased its holdings in Sterling Infrastructure by 34.0% during the 3rd quarter. Algert Global LLC now owns 26,141 shares of the construction company’s stock worth $3,791,000 after purchasing an additional 6,630 shares during the period. Finally, Stifel Financial Corp raised its position in Sterling Infrastructure by 22.9% during the 3rd quarter. Stifel Financial Corp now owns 23,418 shares of the construction company’s stock valued at $3,396,000 after purchasing an additional 4,359 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

About Sterling Infrastructure

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.