Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 22.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,987 shares of the construction company’s stock after selling 581 shares during the period. Sawgrass Asset Management LLC’s holdings in Sterling Infrastructure were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of Sterling Infrastructure in the third quarter worth $26,000. Hantz Financial Services Inc. acquired a new position in Sterling Infrastructure in the 2nd quarter valued at about $30,000. Huntington National Bank lifted its holdings in Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock valued at $31,000 after purchasing an additional 213 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Sterling Infrastructure by 391.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after purchasing an additional 219 shares during the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of Sterling Infrastructure by 85.4% during the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock opened at $180.03 on Friday. The stock has a fifty day moving average price of $153.02 and a 200 day moving average price of $129.37. Sterling Infrastructure, Inc. has a 52 week low of $62.13 and a 52 week high of $201.27. The firm has a market capitalization of $5.53 billion, a P/E ratio of 30.41, a PEG ratio of 2.01 and a beta of 1.15. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.41.

Sterling Infrastructure (NASDAQ:STRL) last announced 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. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The business had revenue of $593.74 million for the quarter, compared to analyst estimates of $599.90 million. During the same period in the prior year, the firm posted $1.26 EPS. Equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.