Sterling Infrastructure (NASDAQ:STRL) Stock Price Down 5.9% – Time to Sell?

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 traded hands during trading, a decline of 35% from the average session volume of 217,911 shares. The stock had previously closed at $178.15.

Analysts Set New Price Targets

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

Sterling Infrastructure Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s fifty day simple moving average is $180.48 and its 200-day simple moving average is $145.52. The company has a market capitalization of $5.09 billion, a P/E ratio of 27.98, a PEG ratio of 2.02 and a beta of 1.26.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $599.90 million. During the same period in the previous year, the company earned $1.26 earnings per share. On average, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

Insider Activity

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the transaction, the director now directly owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sterling Infrastructure

A number of hedge funds have recently made changes to their positions in the company. Chartwell Investment Partners LLC increased its holdings in shares of Sterling Infrastructure by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock worth $1,299,000 after buying an additional 70 shares in the last quarter. Xponance Inc. boosted its stake in Sterling Infrastructure by 5.1% in the second quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock worth $227,000 after purchasing an additional 93 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Sterling Infrastructure by 45.2% during the third quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock worth $44,000 after purchasing an additional 94 shares during the last quarter. Quarry LP increased its stake in shares of Sterling Infrastructure by 510.7% in the third quarter. Quarry LP now owns 171 shares of the construction company’s stock valued at $25,000 after buying an additional 143 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Sterling Infrastructure by 119.3% during the 3rd quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock worth $43,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 80.95% 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.