Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 19.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 31,480 shares of the construction company’s stock after selling 7,844 shares during the quarter. Raymond James & Associates’ holdings in Sterling Infrastructure were worth $4,565,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Xponance Inc. grew its position in Sterling Infrastructure by 5.1% during the 2nd quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock worth $227,000 after purchasing an additional 93 shares during the period. GAMMA Investing LLC grew its position in shares of Sterling Infrastructure by 45.2% during 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% during 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. SummerHaven Investment Management LLC grew its position in shares of Sterling Infrastructure by 1.0% during 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. Finally, Crewe Advisors LLC grew its position in shares of Sterling Infrastructure by 85.4% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after acquiring an additional 135 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Price Performance

NASDAQ:STRL opened at $153.66 on Friday. Sterling Infrastructure, Inc. has a 52 week low of $55.45 and a 52 week high of $170.50. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $4.72 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15. The stock’s 50-day moving average price is $140.18 and its 200-day moving average price is $123.76.

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

Sterling Infrastructure 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.