Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.6% – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares dropped 5.6% during mid-day trading on Friday . The company traded as low as $140.09 and last traded at $138.44. Approximately 39,413 shares were traded during trading, a decline of 91% from the average daily volume of 448,350 shares. The stock had previously closed at $146.71.

Analyst Ratings Changes

Several analysts have issued reports on STRL shares. StockNews.com raised shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Wednesday. William Blair started coverage on Sterling Infrastructure in a report on Friday, January 17th. They issued an “outperform” rating for the company.

Sterling Infrastructure Price Performance

The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.46 and a beta of 1.26. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The company’s 50 day simple moving average is $178.49 and its 200-day simple moving average is $151.92.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.29. The firm had revenue of $593.74 million for the quarter, compared to analyst estimates 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 business earned $1.26 earnings per share. On average, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dana C. O’brien sold 2,000 shares of the firm’s 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 sale, the director now directly owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This trade 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 is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Sterling Infrastructure

Large investors have recently bought and sold shares of the stock. Quarry LP increased its holdings in shares of Sterling Infrastructure by 510.7% during the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Sterling Infrastructure during the third quarter worth about $26,000. Huntington National Bank raised its holdings in shares of Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after purchasing an additional 213 shares during the period. Signaturefd LLC lifted its stake in shares of Sterling Infrastructure by 119.3% in the 3rd quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock valued at $43,000 after purchasing an additional 161 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Sterling Infrastructure during the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Company Profile

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.