Sterling Infrastructure (NASDAQ:STRL) Shares Down 5.9% – Here’s Why

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) were down 5.9% during mid-day trading on Tuesday . The company traded as low as $161.75 and last traded at $167.66. Approximately 141,221 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 217,911 shares. The stock had previously closed at $178.15.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Price Performance

The company has a 50 day moving average of $180.48 and a two-hundred day moving average of $145.52. The firm has a market cap of $5.09 billion, a P/E ratio of 27.98, a PEG ratio of 2.02 and a beta of 1.26. 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 posted 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 company had revenue of $593.74 million during 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 firm posted $1.26 EPS. Sell-side analysts expect that Sterling Infrastructure, Inc. will post 5.96 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the transaction, the director now owns 25,901 shares in the company, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Sterling Infrastructure

A number of hedge funds have recently made changes to their positions in STRL. Quarry LP increased its holdings in Sterling Infrastructure by 510.7% in the third 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 bought a new stake in Sterling Infrastructure in the third quarter worth approximately $26,000. Huntington National Bank increased 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 purchasing an additional 213 shares during the last quarter. 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 during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Sterling Infrastructure in the 3rd quarter valued at $44,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

About Sterling Infrastructure

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.