Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.3% – Here’s What Happened

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price was down 5.3% during trading on Thursday . The company traded as low as $117.85 and last traded at $118.91. Approximately 186,338 shares changed hands during trading, a decline of 53% from the average daily volume of 394,523 shares. The stock had previously closed at $125.56.

Wall Street Analysts Forecast Growth

STRL has been the subject of a number of recent analyst reports. StockNews.com downgraded Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Monday. DA Davidson upgraded shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Thursday, February 27th. Finally, William Blair assumed coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They issued an “outperform” rating on the stock.

Sterling Infrastructure Stock Down 5.1 %

The firm has a market capitalization of $3.65 billion, a PE ratio of 20.07, a P/E/G ratio of 1.28 and a beta of 1.32. The stock has a 50-day simple moving average of $137.65 and a 200-day simple moving average of $156.14. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Institutional Investors Weigh In On Sterling Infrastructure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STRL. Huntington National Bank increased its stake in shares of Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company’s stock worth $49,000 after purchasing an additional 74 shares in the last quarter. Kovack Advisors Inc. grew its stake in Sterling Infrastructure by 3.2% in the 4th quarter. Kovack Advisors Inc. now owns 2,914 shares of the construction company’s stock valued at $491,000 after buying an additional 91 shares in the last quarter. Willis Investment Counsel grew its stake in Sterling Infrastructure by 1.4% in the 4th quarter. Willis Investment Counsel now owns 7,535 shares of the construction company’s stock valued at $1,269,000 after buying an additional 101 shares in the last quarter. JT Stratford LLC raised its holdings in Sterling Infrastructure by 1.0% during the 4th quarter. JT Stratford LLC now owns 12,465 shares of the construction company’s stock valued at $2,100,000 after acquiring an additional 121 shares during the period. Finally, Xponance Inc. lifted its position in shares of Sterling Infrastructure by 6.5% during the fourth quarter. Xponance Inc. now owns 2,144 shares of the construction company’s stock worth $361,000 after acquiring an additional 131 shares in the last quarter. 80.95% of the stock is currently 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.