Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.9% – Time to Sell?

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) traded down 5.9% during trading on Tuesday . The company traded as low as $161.75 and last traded at $167.66. 141,221 shares changed hands during trading, a decline of 35% from the average session volume of 217,911 shares. The stock had previously closed at $178.15.

Wall Street Analyst Weigh In

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 Trading Down 0.3 %

The stock has a 50-day moving average price of $180.98 and a two-hundred day moving average price of $146.03. The stock has a market capitalization of $5.13 billion, a PE ratio of 28.22, a PEG ratio of 2.02 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.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.29. The business had revenue of $593.74 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $1.26 earnings per share. As a group, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the sale, the director now directly owns 25,901 shares of the company’s stock, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in Sterling Infrastructure by 0.7% in the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after acquiring an additional 5,106 shares during the last quarter. Robeco Schweiz AG bought a new stake in shares of Sterling Infrastructure in the second quarter worth about $1,420,000. Principal Financial Group Inc. lifted its position in shares of Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after buying an additional 325,620 shares in the last quarter. Algert Global LLC boosted its stake in Sterling Infrastructure by 34.0% during the third quarter. Algert Global LLC now owns 26,141 shares of the construction company’s stock valued at $3,791,000 after buying an additional 6,630 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in Sterling Infrastructure by 22.9% during the 3rd quarter. Stifel Financial Corp now owns 23,418 shares of the construction company’s stock valued at $3,396,000 after buying an additional 4,359 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

About Sterling Infrastructure

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.