Sheets Smith Wealth Management Reduces Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Sheets Smith Wealth Management cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 28.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,923 shares of the construction company’s stock after selling 4,376 shares during the quarter. Sheets Smith Wealth Management’s holdings in Sterling Infrastructure were worth $960,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Lord Abbett & CO. LLC grew its holdings in shares of Sterling Infrastructure by 347.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 616,017 shares of the construction company’s stock worth $45,265,000 after purchasing an additional 478,331 shares during the period. FMR LLC raised its stake in shares of Sterling Infrastructure by 45.0% in the 3rd quarter. FMR LLC now owns 847,335 shares of the construction company’s stock valued at $62,262,000 after acquiring an additional 263,046 shares during the period. Lisanti Capital Growth LLC acquired a new position in shares of Sterling Infrastructure in the 3rd quarter worth approximately $10,167,000. Charles Schwab Investment Management Inc. boosted its position in shares of Sterling Infrastructure by 43.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 365,027 shares of the construction company’s stock worth $26,822,000 after purchasing an additional 110,146 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in Sterling Infrastructure by 310.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 143,520 shares of the construction company’s stock valued at $10,546,000 after purchasing an additional 108,582 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Trading Up 3.2 %

NASDAQ STRL traded up $3.21 during trading on Monday, hitting $104.36. The stock had a trading volume of 283,576 shares, compared to its average volume of 356,040. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $3.23 billion, a PE ratio of 22.73, a PEG ratio of 1.02 and a beta of 1.21. The firm has a 50 day moving average price of $105.92 and a 200 day moving average price of $85.98. Sterling Infrastructure, Inc. has a twelve month low of $41.50 and a twelve month high of $116.36.

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

Insider Transactions at Sterling Infrastructure

In related news, CEO Joseph A. Cutillo sold 40,713 shares of Sterling Infrastructure stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $111.74, for a total value of $4,549,270.62. Following the completion of the transaction, the chief executive officer now directly owns 606,455 shares in the company, valued at $67,765,281.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 40,713 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $111.74, for a total transaction of $4,549,270.62. Following the completion of the transaction, the chief executive officer now owns 606,455 shares in the company, valued at approximately $67,765,281.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph A. Cutillo sold 40,000 shares of Sterling Infrastructure stock in a transaction on Monday, March 25th. The stock was sold at an average price of $112.59, for a total transaction of $4,503,600.00. Following the sale, the chief executive officer now directly owns 566,455 shares of the company’s stock, valued at $63,777,168.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,172 shares of company stock valued at $22,019,320. 3.80% of the stock is currently owned by company insiders.

Sterling Infrastructure 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.