Insider Selling: Sterling Infrastructure, Inc. (NASDAQ:STRL) CEO Sells 38,322 Shares of Stock

Sterling Infrastructure, Inc. (NASDAQ:STRL) CEO Joseph A. Cutillo sold 38,322 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $112.81, for a total transaction of $4,323,104.82. Following the transaction, the chief executive officer now directly owns 488,133 shares in the company, valued at approximately $55,066,283.73. The transaction was disclosed in a filing with the SEC, which is available through this link.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $113.43 on Thursday. Sterling Infrastructure, Inc. has a fifty-two week low of $34.23 and a fifty-two week high of $116.36. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 1.13 and a beta of 1.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s 50-day simple moving average is $92.87 and its 200 day simple moving average is $80.35.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. The business had revenue of $485.98 million for the quarter, compared to analysts’ expectations of $526.90 million. As a group, research analysts anticipate that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sterling Infrastructure

Several large investors have recently added to or reduced their stakes in STRL. BlackRock Inc. lifted its position in shares of Sterling Infrastructure by 19.0% during the 1st quarter. BlackRock Inc. now owns 3,377,877 shares of the construction company’s stock worth $127,954,000 after buying an additional 538,387 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Sterling Infrastructure by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock worth $165,215,000 after buying an additional 156,225 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sterling Infrastructure by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,519,495 shares of the construction company’s stock worth $57,558,000 after buying an additional 15,998 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Sterling Infrastructure by 3.3% during the 2nd quarter. Renaissance Technologies LLC now owns 877,229 shares of the construction company’s stock worth $48,949,000 after buying an additional 28,200 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Sterling Infrastructure by 45.0% during the 3rd quarter. FMR LLC now owns 847,335 shares of the construction company’s stock worth $62,262,000 after buying an additional 263,046 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson reissued a “neutral” rating and set a $115.00 price objective (up previously from $86.00) on shares of Sterling Infrastructure in a research report on Wednesday, February 28th.

Sterling Infrastructure Company Profile

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.