Wasatch Advisors LP Has $11.68 Million Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Wasatch Advisors LP reduced its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,530 shares of the construction company’s stock after selling 4,140 shares during the period. Wasatch Advisors LP owned 0.26% of Sterling Infrastructure worth $11,678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Chartwell Investment Partners LLC increased its stake in Sterling Infrastructure by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock valued at $1,299,000 after buying an additional 70 shares during the last quarter. Xponance Inc. grew its position in shares of Sterling Infrastructure by 5.1% in the 2nd quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock valued at $227,000 after acquiring an additional 93 shares during the period. GAMMA Investing LLC grew its position in shares of Sterling Infrastructure by 45.2% in the 3rd quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock valued at $44,000 after acquiring an additional 94 shares during the period. EFG Asset Management North America Corp. grew its position in shares of Sterling Infrastructure by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company’s stock valued at $2,985,000 after acquiring an additional 120 shares during the period. Finally, SummerHaven Investment Management LLC grew its position in shares of Sterling Infrastructure by 1.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company’s stock valued at $1,539,000 after acquiring an additional 124 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Sterling Infrastructure Stock Performance

Shares of STRL opened at $194.45 on Friday. The firm has a 50-day moving average of $166.30 and a 200-day moving average of $134.82. Sterling Infrastructure, Inc. has a one year low of $62.13 and a one year high of $203.49. The company has a market cap of $5.97 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data 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 company had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same quarter last year, the firm posted $1.26 EPS. As a group, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the sale, the executive vice president now owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. The trade was a 7.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.