Balboa Wealth Partners Cuts Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Balboa Wealth Partners reduced its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 16.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,499 shares of the construction company’s stock after selling 2,010 shares during the quarter. Balboa Wealth Partners’ holdings in Sterling Infrastructure were worth $1,523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of STRL. Capital Performance Advisors LLP acquired a new stake in shares of Sterling Infrastructure during the third quarter worth $26,000. Hantz Financial Services Inc. purchased a new stake in shares of Sterling Infrastructure during the second quarter worth about $30,000. Huntington National Bank increased its stake in shares of Sterling Infrastructure by 21,300.0% during the third quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after purchasing an additional 213 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Sterling Infrastructure by 391.1% during the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after purchasing an additional 219 shares in the last quarter. Finally, Crewe Advisors LLC grew its stake in Sterling Infrastructure by 85.4% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $35,677,950.89. This represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by insiders.

Sterling Infrastructure Trading Down 2.3 %

Shares of NASDAQ:STRL opened at $182.39 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $150.14 and its two-hundred day moving average is $128.28. The company has a market cap of $5.60 billion, a PE ratio of 30.81, a P/E/G ratio of 2.09 and a beta of 1.15. Sterling Infrastructure, Inc. has a 52 week low of $62.13 and a 52 week high of $201.27.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.68 by $0.29. The firm had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same quarter last year, the business earned $1.26 earnings per share. Equities analysts predict that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.