Sterling Infrastructure (NASDAQ:STRL) Stock Price Down 5.2% – Time to Sell?

Sterling Infrastructure, Inc. (NASDAQ:STRL) traded down 5.2% on Friday . The company traded as low as $191.56 and last traded at $186.40. 68,725 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 309,623 shares. The stock had previously closed at $196.58.

Analyst Upgrades and Downgrades

Separately, William Blair started coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating on the stock.

Sterling Infrastructure Stock Performance

The stock has a market capitalization of $5.75 billion, a PE ratio of 31.64, a P/E/G ratio of 2.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s 50 day moving average is $182.39 and its two-hundred day moving average is $151.46.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. The firm had revenue of $593.74 million during the quarter, compared to analyst estimates of $599.90 million. During the same period last year, the business posted $1.26 earnings per share. As a group, research analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Insider Transactions at Sterling Infrastructure

In related news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the transaction, the director now owns 25,901 shares in the company, valued at $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Sterling Infrastructure by 0.5% in the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after buying an additional 3,918 shares in the last quarter. State Street Corp raised its position in shares of Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after acquiring an additional 5,106 shares in the last quarter. Congress Asset Management Co. boosted its holdings in 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Sterling Infrastructure by 19.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock valued at $89,608,000 after purchasing an additional 102,101 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in Sterling Infrastructure by 11.4% during the second quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company’s stock worth $63,147,000 after purchasing an additional 54,727 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

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.