Sterling Infrastructure (NASDAQ:STRL) Trading Down 3.5% – Here’s What Happened

18 Oct 2024, 19:21 by Sarita Garza · The Markets Daily

Sterling Infrastructure, Inc. (NASDAQ:STRL – Get Free Report)’s share price dropped 3.5% during mid-day trading on Friday . The stock traded as low as $159.32 and last traded at $159.65. Approximately 349,625 shares were traded during trading, an increase of 1% from the average daily volume of 346,074 shares. The stock had previously closed at $165.40.

Analysts Set New Price Targets

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

View Our Latest Research Report on STRL

Sterling Infrastructure Trading Down 3.7 %

The firm has a market capitalization of $4.92 billion, a PE ratio of 34.39, a P/E/G ratio of 1.82 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $130.41 and its 200 day moving average price is $119.92.

Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last issued its earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. The business had revenue of $582.82 million during the quarter, compared to analysts’ expectations of $553.70 million. During the same quarter in the previous year, the business earned $1.27 EPS. As a group, analysts expect that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the sale, the executive vice president now directly owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sterling Infrastructure

A number of institutional investors have recently added to or reduced their stakes in STRL. Hantz Financial Services Inc. acquired a new stake in Sterling Infrastructure during the second quarter valued at approximately $30,000. Nisa Investment Advisors LLC boosted its holdings in Sterling Infrastructure by 391.1% in 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 during the period. Crewe Advisors LLC increased its stake in Sterling Infrastructure by 85.4% during the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Sterling Infrastructure during the third quarter valued at $44,000. Finally, GAMMA Investing LLC raised its holdings in shares of Sterling Infrastructure by 45.2% during the third quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock worth $44,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Company Profile

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