Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC reduced its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 22.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,987 shares of the construction company’s stock after selling 581 shares during the period. Sawgrass Asset Management LLC’s holdings in Sterling Infrastructure were worth $288,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Sterling Infrastructure in the third quarter valued at about $26,000. Huntington National Bank boosted its holdings in Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after acquiring an additional 213 shares during the period. Hantz Financial Services Inc. purchased a new position in Sterling Infrastructure in the 2nd quarter worth approximately $30,000. Nisa Investment Advisors LLC grew its position in Sterling Infrastructure by 391.1% in the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after acquiring an additional 219 shares in the last quarter. Finally, Crewe Advisors LLC raised its stake in shares of Sterling Infrastructure by 85.4% during the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Down 1.3 %

Shares of NASDAQ STRL opened at $180.03 on Friday. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 2.01 and a beta of 1.15. Sterling Infrastructure, Inc. has a 1 year low of $62.13 and a 1 year high of $201.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.24 and a current ratio of 1.29. The stock’s 50-day simple moving average is $153.02 and its 200-day simple moving average is $129.37.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $599.90 million. During the same period in the prior year, the company posted $1.26 EPS. As a group, equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the sale, the executive vice president now owns 248,471 shares in the company, valued at $35,677,950.89. This represents a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by insiders.

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.