Jennison Associates LLC Sells 2,385 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Jennison Associates LLC cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 35.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,430 shares of the construction company’s stock after selling 2,385 shares during the period. Jennison Associates LLC’s holdings in Sterling Infrastructure were worth $642,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Sterling Infrastructure in the 3rd quarter valued at $26,000. Hantz Financial Services Inc. bought a new stake in Sterling Infrastructure during the second quarter valued at $30,000. Huntington National Bank grew its holdings in Sterling Infrastructure by 21,300.0% during the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after acquiring an additional 213 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Sterling Infrastructure by 391.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after acquiring an additional 219 shares in the last quarter. Finally, Crewe Advisors LLC lifted its stake in shares of Sterling Infrastructure by 85.4% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after purchasing an additional 135 shares during the period. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Stock Down 0.5 %

Sterling Infrastructure stock opened at $196.51 on Friday. The company has a market capitalization of $6.03 billion, a PE ratio of 33.19, a PEG ratio of 2.21 and a beta of 1.15. Sterling Infrastructure, Inc. has a 12-month low of $62.13 and a 12-month high of $201.27. The firm’s fifty day moving average is $160.49 and its 200 day moving average is $132.33. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the business earned $1.26 earnings per share. As a group, sell-side analysts predict that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. This represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.70% 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.