Short Interest in Sterling Infrastructure, Inc. (NASDAQ:STRL) Decreases By 23.0%

Sterling Infrastructure, Inc. (NASDAQ:STRL) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,040,000 shares, a decline of 23.0% from the October 15th total of 1,350,000 shares. Based on an average trading volume of 304,000 shares, the days-to-cover ratio is presently 3.4 days.

Analysts Set New Price Targets

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

Sterling Infrastructure Price Performance

STRL stock traded down $2.36 during trading on Friday, hitting $180.03. The company had a trading volume of 375,533 shares, compared to its average volume of 351,217. The company has a market cap of $5.53 billion, a P/E ratio of 30.41, a P/E/G ratio of 2.09 and a beta of 1.15. Sterling Infrastructure has a fifty-two week low of $62.13 and a fifty-two week high of $201.27. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average price of $153.02 and a two-hundred day moving average price of $129.17.

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. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The company had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. During the same period in the previous year, the company earned $1.26 EPS. Equities research analysts expect that Sterling Infrastructure will post 5.96 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the sale, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 7.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Sterling Infrastructure

Large investors have recently made changes to their positions in the stock. Quarry LP lifted its holdings in shares of Sterling Infrastructure by 510.7% in the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after acquiring an additional 143 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Sterling Infrastructure during the 3rd quarter valued at about $26,000. Huntington National Bank raised its stake in shares of Sterling Infrastructure by 21,300.0% in the third 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. Hantz Financial Services Inc. purchased a new stake in shares of Sterling Infrastructure during the 2nd quarter valued at about $30,000. Finally, Nisa Investment Advisors LLC increased its position in Sterling Infrastructure by 391.1% during the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after acquiring an additional 219 shares during the last quarter. 80.95% of the stock is owned by 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.