Sterling Infrastructure (NASDAQ:STRL) Downgraded by StockNews.com

StockNews.com downgraded shares of Sterling Infrastructure (NASDAQ:STRL) from a buy rating to a hold rating in a report published on Sunday.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL opened at $130.35 on Friday. The company’s 50 day simple moving average is $114.73 and its 200 day simple moving average is $113.88. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. Sterling Infrastructure has a 1 year low of $55.45 and a 1 year high of $137.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. The firm had revenue of $582.82 million for the quarter, compared to analysts’ expectations of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same quarter in the previous year, the firm posted $1.27 earnings per share. As a group, research analysts predict that Sterling Infrastructure will post 5.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in Sterling Infrastructure by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 367,905 shares of the construction company’s stock valued at $32,350,000 after acquiring an additional 2,878 shares during the period. Principal Financial Group Inc. increased its holdings in Sterling Infrastructure by 29.4% in the fourth quarter. Principal Financial Group Inc. now owns 17,381 shares of the construction company’s stock valued at $1,528,000 after purchasing an additional 3,947 shares during the period. Avantax Advisory Services Inc. bought a new position in Sterling Infrastructure during the 4th quarter worth $255,000. Gladstone Institutional Advisory LLC acquired a new position in Sterling Infrastructure during the 4th quarter worth about $331,000. Finally, Thoroughbred Financial Services LLC grew its position in shares of Sterling Infrastructure by 245.4% in the 4th quarter. Thoroughbred Financial Services LLC now owns 11,238 shares of the construction company’s stock valued at $988,000 after buying an additional 7,984 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

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.