US Bancorp DE Reduces Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

US Bancorp DE lessened its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 72.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 635 shares of the construction company’s stock after selling 1,695 shares during the period. US Bancorp DE’s holdings in Sterling Infrastructure were worth $92,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in STRL. Congress Asset Management Co. grew its position in shares of Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after purchasing an additional 104,096 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Sterling Infrastructure in the 3rd quarter valued at approximately $204,000. Diversify Wealth Management LLC grew its holdings in Sterling Infrastructure by 9.0% during the 3rd quarter. Diversify Wealth Management LLC now owns 4,482 shares of the construction company’s stock valued at $704,000 after buying an additional 371 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in Sterling Infrastructure during the third quarter worth $307,000. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Sterling Infrastructure in the third quarter worth $232,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. This represents a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $180.03 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.24. The company has a market cap of $5.53 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. The company has a 50-day simple moving average of $153.02 and a 200-day simple moving average of $129.37. Sterling Infrastructure, Inc. has a 12 month low of $62.13 and a 12 month high of $201.27.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. The company had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. During the same period in the previous year, the firm posted $1.26 EPS. On average, equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current 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.