Ellsworth Advisors LLC Decreases Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Ellsworth Advisors LLC cut its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,133 shares of the construction company’s stock after selling 337 shares during the quarter. Ellsworth Advisors LLC’s holdings in Sterling Infrastructure were worth $1,179,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Sterling Infrastructure by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company’s stock valued at $208,242,000 after acquiring an additional 8,851 shares during the last quarter. Congress Asset Management Co. MA raised its stake in Sterling Infrastructure by 2.0% during the 1st quarter. Congress Asset Management Co. MA now owns 557,659 shares of the construction company’s stock valued at $61,515,000 after buying an additional 10,935 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Sterling Infrastructure by 11.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company’s stock valued at $63,147,000 after buying an additional 54,727 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sterling Infrastructure by 691.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock valued at $61,040,000 after buying an additional 450,620 shares during the period. Finally, Hennessy Advisors Inc. boosted its stake in shares of Sterling Infrastructure by 20.4% in the 1st quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock worth $48,558,000 after buying an additional 74,500 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

NASDAQ:STRL opened at $165.40 on Friday. The stock has a 50-day simple moving average of $130.41 and a two-hundred day simple moving average of $119.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24. Sterling Infrastructure, Inc. has a 52-week low of $55.45 and a 52-week high of $170.50. The firm has a market capitalization of $5.10 billion, a PE ratio of 34.39, a P/E/G ratio of 1.82 and a beta of 1.17.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.43 by $0.24. The business had revenue of $582.82 million for the quarter, compared to analysts’ expectations of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same quarter in the previous year, the company earned $1.27 EPS. Analysts forecast that Sterling Infrastructure, Inc. will post 5.66 EPS for the current year.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the sale, the executive vice president now owns 248,471 shares of the company’s stock, valued at $35,677,950.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.