Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Saxon Interests Inc.

Saxon Interests Inc. cut its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,269 shares of the construction company’s stock after selling 170 shares during the period. Saxon Interests Inc.’s holdings in Sterling Infrastructure were worth $382,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after acquiring an additional 5,106 shares in the last quarter. Principal Financial Group Inc. boosted its stake in 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 worth $51,561,000 after purchasing an additional 325,620 shares during the period. Algert Global LLC grew its position 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 in the last quarter. Stifel Financial Corp lifted its holdings in shares of Sterling Infrastructure by 22.9% in the third 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. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Sterling Infrastructure during the third quarter valued at $591,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $181.65 on Friday. 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 has a market capitalization of $5.58 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.69 and a beta of 1.26. The business has a 50-day moving average of $182.05 and a two-hundred day moving average of $148.00. Sterling Infrastructure, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $203.49.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS 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 the consensus estimate of $599.90 million. During the same quarter last year, the company posted $1.26 earnings per share. On average, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

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

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.