Royce & Associates LP Sells 6,010 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Royce & Associates LP cut its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 8.3% in the third quarter, HoldingsChannel reports. The firm owned 66,668 shares of the construction company’s stock after selling 6,010 shares during the period. Royce & Associates LP’s holdings in Sterling Infrastructure were worth $9,668,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of STRL. Huntington National Bank boosted its stake in shares of 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 in the last quarter. KBC Group NV lifted its holdings in Sterling Infrastructure by 29.0% in the 3rd quarter. KBC Group NV now owns 993 shares of the construction company’s stock worth $144,000 after purchasing an additional 223 shares during the last quarter. Kovack Advisors Inc. bought a new stake in Sterling Infrastructure during the third quarter worth approximately $409,000. Victory Capital Management Inc. grew its holdings in Sterling Infrastructure by 8.5% during the third quarter. Victory Capital Management Inc. now owns 59,861 shares of the construction company’s stock valued at $8,681,000 after purchasing an additional 4,707 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Sterling Infrastructure by 18.2% in the third quarter. Harbour Investments Inc. now owns 6,807 shares of the construction company’s stock valued at $987,000 after purchasing an additional 1,050 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business’s 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 transaction, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. The trade was a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

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

Sterling Infrastructure Stock Down 1.3 %

STRL stock opened at $180.03 on Monday. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. The company has a 50-day moving average of $153.02 and a two-hundred day moving average of $129.37. Sterling Infrastructure, Inc. has a 52-week low of $62.13 and a 52-week high of $201.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.24.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 27.52% and a net margin of 8.77%. During the same quarter in the previous year, the firm earned $1.26 EPS. As a group, equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

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.