Wasatch Advisors LP Sells 4,140 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Wasatch Advisors LP lowered its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 4.9% in the third quarter, HoldingsChannel.com reports. The firm owned 80,530 shares of the construction company’s stock after selling 4,140 shares during the quarter. Wasatch Advisors LP’s holdings in Sterling Infrastructure were worth $11,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Chartwell Investment Partners LLC boosted its holdings in Sterling Infrastructure by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock valued at $1,299,000 after purchasing an additional 70 shares during the period. Xponance Inc. boosted its holdings in Sterling Infrastructure by 5.1% in the 2nd quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock valued at $227,000 after purchasing an additional 93 shares during the period. GAMMA Investing LLC boosted its holdings in Sterling Infrastructure by 45.2% in the 3rd quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock valued at $44,000 after purchasing an additional 94 shares during the period. EFG Asset Management North America Corp. boosted its holdings in Sterling Infrastructure by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company’s stock valued at $2,985,000 after purchasing an additional 120 shares during the period. Finally, SummerHaven Investment Management LLC boosted its holdings in Sterling Infrastructure by 1.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company’s stock valued at $1,539,000 after purchasing an additional 124 shares during the period. Institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 248,471 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $194.45 on Friday. The firm has a 50 day moving average of $166.30 and a 200-day moving average of $134.82. The stock has a market capitalization of $5.97 billion, a PE ratio of 32.85, a PEG ratio of 2.18 and a beta of 1.15. 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 $62.13 and a 12 month high of $203.49.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS 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 analysts’ expectations of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same period in the previous year, the company earned $1.26 EPS. On average, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

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.