Harvest Fund Management Co. Ltd Cuts Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Harvest Fund Management Co. Ltd lowered its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 58.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,121 shares of the construction company’s stock after selling 1,546 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Sterling Infrastructure were worth $162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of STRL. Robeco Schweiz AG purchased a new position in Sterling Infrastructure in the 2nd quarter worth about $1,420,000. Virtu Financial LLC bought a new position in Sterling Infrastructure during the first quarter valued at approximately $1,138,000. Csenge Advisory Group purchased a new stake in Sterling Infrastructure in the second quarter worth approximately $2,048,000. Verus Capital Partners LLC grew its position in Sterling Infrastructure by 68.4% in the 2nd quarter. Verus Capital Partners LLC now owns 21,850 shares of the construction company’s stock worth $2,586,000 after purchasing an additional 8,875 shares during the period. Finally, SG Americas Securities LLC raised its stake in Sterling Infrastructure by 270.2% during the 2nd quarter. SG Americas Securities LLC now owns 36,338 shares of the construction company’s stock valued at $4,300,000 after buying an additional 26,521 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value 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 represents a 7.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.80% of the stock is owned by insiders.

Sterling Infrastructure Price Performance

NASDAQ STRL opened at $195.41 on Thursday. The company has a 50-day moving average price of $163.21 and a 200-day moving average price of $133.44. Sterling Infrastructure, Inc. has a 52 week low of $62.13 and a 52 week high of $203.49. 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 firm has a market capitalization of $6.00 billion, a P/E ratio of 33.62, a PEG ratio of 2.20 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.29. The business had revenue of $593.74 million during 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 company earned $1.26 earnings per share. Equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

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.