Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 480 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 10.3% in the fourth quarter, Holdings Channel reports. The firm owned 4,187 shares of the construction company’s stock after selling 480 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Sterling Infrastructure were worth $705,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of STRL. Geode Capital Management LLC boosted its stake in shares of Sterling Infrastructure by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock worth $104,431,000 after acquiring an additional 3,918 shares during the period. State Street Corp boosted its stake in shares of Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after acquiring an additional 5,106 shares during the period. Congress Asset Management Co. boosted its stake in shares of Sterling Infrastructure by 19.1% during the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after acquiring an additional 104,096 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Sterling Infrastructure by 19.8% during the 3rd 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 period. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Sterling Infrastructure by 4.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company’s stock worth $55,248,000 after acquiring an additional 17,863 shares during the period. 80.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, William Blair assumed coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating for the company.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $139.68 on Wednesday. The company has a market capitalization of $4.29 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.07 and a beta of 1.26. The stock has a 50 day moving average of $180.47 and a 200-day moving average of $152.03. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a 12 month low of $74.44 and a 12 month high of $206.07.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results 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 period last year, the firm posted $1.26 EPS. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Insider Buying and Selling

In related news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction that occurred 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 completion of the sale, the director now directly owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by insiders.

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.