Sterling Infrastructure (NASDAQ:STRL) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Sterling Infrastructure (NASDAQ:STRL) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

Sterling Infrastructure Price Performance

Shares of STRL opened at $134.94 on Friday. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.38 and a beta of 1.16. The stock has a 50 day moving average of $115.16 and a 200-day moving average of $114.03. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44. Sterling Infrastructure has a 52 week low of $55.45 and a 52 week high of $139.27.

Sterling Infrastructure (NASDAQ:STRL) last issued its 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 company had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. During the same quarter last year, the firm earned $1.27 EPS. As a group, analysts forecast that Sterling Infrastructure will post 5.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STRL. Allspring Global Investments Holdings LLC boosted its position in 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 purchasing an additional 450,620 shares during the period. Hennessy Advisors Inc. acquired a new position in Sterling Infrastructure during the 4th quarter valued at approximately $32,156,000. Vanguard Group Inc. boosted its position in Sterling Infrastructure by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock valued at $165,215,000 after purchasing an additional 156,225 shares during the period. F M Investments LLC acquired a new position in Sterling Infrastructure during the 2nd quarter valued at approximately $18,379,000. Finally, Sei Investments Co. boosted its position in Sterling Infrastructure by 190.0% during the 2nd quarter. Sei Investments Co. now owns 89,573 shares of the construction company’s stock valued at $10,600,000 after purchasing an additional 58,682 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.

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.