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

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s stock price traded down 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 were traded during trading, a decline of 78% from the average session volume of 309,623 shares. The stock had previously closed at $196.58.

Analysts Set New Price Targets

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

Sterling Infrastructure Stock Down 3.7 %

The firm has a market cap 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 company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $181.96 and a two-hundred day moving average price of $150.35.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share (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 business had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. During the same quarter last year, the business posted $1.26 EPS. On average, equities research analysts expect that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Insider Activity

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Spire Wealth Management grew its holdings in shares of Sterling Infrastructure by 265.1% during the fourth quarter. Spire Wealth Management now owns 8,792 shares of the construction company’s stock worth $1,481,000 after purchasing an additional 6,384 shares during the last quarter. Highland Capital Management LLC purchased a new position in Sterling Infrastructure during the 4th quarter worth approximately $242,000. Bay Rivers Group acquired a new position in Sterling Infrastructure during the fourth quarter worth approximately $341,000. KBC Group NV increased its position in Sterling Infrastructure by 35.6% during the fourth quarter. KBC Group NV now owns 1,347 shares of the construction company’s stock worth $227,000 after buying an additional 354 shares during the period. Finally, Blue Trust Inc. lifted its stake in Sterling Infrastructure by 32.3% in the fourth quarter. Blue Trust Inc. now owns 1,648 shares of the construction company’s stock valued at $278,000 after buying an additional 402 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

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.