Sterling Infrastructure (NASDAQ:STRL) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Sterling Infrastructure (NASDAQ:STRL) from a buy rating to a hold rating in a research report released on Wednesday.

Sterling Infrastructure Trading Up 4.7 %

Shares of NASDAQ STRL opened at $115.28 on Wednesday. Sterling Infrastructure has a fifty-two week low of $55.45 and a fifty-two week high of $137.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $3.56 billion, a P/E ratio of 23.97 and a beta of 1.19. The company’s 50 day simple moving average is $118.85 and its 200 day simple moving average is $105.45.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Monday, May 6th. The construction company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.18. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. The company had revenue of $440.36 million during the quarter, compared to the consensus estimate of $453.30 million. On average, analysts predict that Sterling Infrastructure will post 5.3 EPS for the current year.

Institutional Investors Weigh In On Sterling Infrastructure

A number of hedge funds and other institutional investors have recently made changes to their positions in STRL. Allspring Global Investments Holdings LLC raised its holdings in shares of Sterling Infrastructure by 691.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock worth $61,040,000 after acquiring an additional 450,620 shares during the period. Hennessy Advisors Inc. acquired a new stake in Sterling Infrastructure in the 4th quarter valued at $32,156,000. Vanguard Group Inc. increased its stake in Sterling Infrastructure by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock valued at $165,215,000 after buying an additional 156,225 shares during the last quarter. International Assets Investment Management LLC increased its stake in Sterling Infrastructure by 8,693.0% in the 4th quarter. International Assets Investment Management LLC now owns 87,930 shares of the construction company’s stock valued at $7,732,000 after buying an additional 86,930 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Sterling Infrastructure by 105.1% in the 4th quarter. Teacher Retirement System of Texas now owns 131,069 shares of the construction company’s stock valued at $11,525,000 after buying an additional 67,172 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

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.