Harvest Fund Management Co. Ltd Cuts Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Harvest Fund Management Co. Ltd trimmed its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 58.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,121 shares of the construction company’s stock after selling 1,546 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Sterling Infrastructure were worth $162,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Sterling Infrastructure by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company’s stock worth $208,242,000 after purchasing an additional 8,851 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after buying an additional 104,096 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Sterling Infrastructure by 19.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock worth $89,608,000 after acquiring an additional 102,101 shares during the last quarter. Driehaus Capital Management LLC grew its stake in Sterling Infrastructure by 11.4% during the second quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company’s stock valued at $63,147,000 after acquiring an additional 54,727 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Sterling Infrastructure by 1,088.1% during the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after acquiring an additional 325,620 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the 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 sale, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at $35,677,950.89. This represents a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.

Sterling Infrastructure Stock Performance

NASDAQ STRL opened at $195.41 on Thursday. 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, Inc. has a 1-year low of $62.13 and a 1-year high of $203.49. The business has a 50 day simple moving average of $163.21 and a two-hundred day simple moving average of $133.44. The stock has a market capitalization of $6.00 billion, a PE ratio of 33.62, a P/E/G ratio of 2.20 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The firm had revenue of $593.74 million during the quarter, compared to analyst estimates of $599.90 million. During the same period last year, the firm posted $1.26 earnings per share. On average, research analysts predict that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal 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.