Sterling Infrastructure (NASDAQ:STRL) Shares Down 5.2% – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s stock price fell 5.2% during mid-day trading on Friday . The company traded as low as $191.56 and last traded at $186.40. 68,725 shares traded hands during trading, a decline of 78% from the average session volume of 309,623 shares. The stock had previously closed at $196.58.

Wall Street Analysts Forecast Growth

Separately, William Blair initiated coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They issued an “outperform” rating for the company.

Sterling Infrastructure Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $5.82 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.26. The stock’s 50 day moving average is $181.96 and its two-hundred day moving average is $150.35.

Sterling Infrastructure (NASDAQ:STRL) last released its 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 business had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. During the same quarter last year, the business posted $1.26 earnings per share. On average, equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the company’s 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 completion of the sale, the director now directly owns 25,901 shares in the company, valued at $4,555,726.89. This represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of STRL. Principal Financial Group Inc. lifted its stake in shares of Sterling Infrastructure by 1,088.1% in the 3rd 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 last quarter. International Assets Investment Management LLC lifted its position in Sterling Infrastructure by 14,112.0% in the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock valued at $20,610,000 after buying an additional 141,120 shares during the last quarter. Congress Asset Management Co. boosted its stake 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 during the period. Allspring Global Investments Holdings LLC increased its position in shares of Sterling Infrastructure by 19.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock valued at $89,608,000 after acquiring an additional 102,101 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Sterling Infrastructure by 190.0% in the 2nd quarter. Sei Investments Co. now owns 89,573 shares of the construction company’s stock valued at $10,600,000 after acquiring an additional 58,682 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

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.