Sterling Infrastructure, Inc. (NASDAQ:STRL) Short Interest Down 23.0% in October

Sterling Infrastructure, Inc. (NASDAQ:STRL) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,040,000 shares, a drop of 23.0% from the October 15th total of 1,350,000 shares. Based on an average daily volume of 304,000 shares, the short-interest ratio is currently 3.4 days.

Analyst Ratings Changes

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

Sterling Infrastructure Price Performance

STRL stock traded down $2.36 during mid-day trading on Friday, hitting $180.03. The stock had a trading volume of 375,533 shares, compared to its average volume of 351,217. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.41. Sterling Infrastructure has a 52 week low of $62.13 and a 52 week high of $201.27. The firm has a market capitalization of $5.53 billion, a P/E ratio of 30.41, a P/E/G ratio of 2.09 and a beta of 1.15. The firm has a fifty day simple moving average of $153.02 and a 200 day simple moving average of $129.17.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.29. The company had revenue of $593.74 million for the quarter, compared to analysts’ expectations of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same period in the prior year, the business earned $1.26 earnings per share. As a group, research analysts forecast that Sterling Infrastructure will post 5.96 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the sale, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. This trade represents a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of STRL. Quarry LP boosted its holdings in Sterling Infrastructure by 510.7% in the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Sterling Infrastructure in the 3rd quarter valued at about $26,000. Hantz Financial Services Inc. purchased a new position in shares of Sterling Infrastructure in the 2nd quarter worth $30,000. Huntington National Bank grew its holdings in Sterling Infrastructure by 21,300.0% during the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock valued at $31,000 after purchasing an additional 213 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of 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. 80.95% of the stock is owned by institutional investors.

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.