Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC reduced its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,568 shares of the construction company’s stock after selling 151 shares during the period. Sawgrass Asset Management LLC’s holdings in Sterling Infrastructure were worth $304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Sterling Infrastructure by 60.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 53,000 shares of the construction company’s stock worth $4,660,000 after buying an additional 20,000 shares during the period. Nordea Investment Management AB boosted its position in shares of Sterling Infrastructure by 47.1% during the first quarter. Nordea Investment Management AB now owns 50,420 shares of the construction company’s stock worth $5,651,000 after buying an additional 16,142 shares during the period. Seizert Capital Partners LLC boosted its position in shares of Sterling Infrastructure by 21.3% during the fourth quarter. Seizert Capital Partners LLC now owns 40,868 shares of the construction company’s stock worth $3,594,000 after buying an additional 7,177 shares during the period. Inspire Investing LLC acquired a new position in shares of Sterling Infrastructure during the first quarter worth approximately $449,000. Finally, Principal Financial Group Inc. boosted its position in shares of Sterling Infrastructure by 49.8% during the first quarter. Principal Financial Group Inc. now owns 26,038 shares of the construction company’s stock worth $2,872,000 after buying an additional 8,657 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Sterling Infrastructure Stock Down 2.4 %

NASDAQ:STRL traded down $2.74 during trading hours on Friday, hitting $111.93. 227,813 shares of the stock traded hands, compared to its average volume of 368,376. The firm has a 50 day moving average price of $114.83 and a 200 day moving average price of $108.81. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.53. Sterling Infrastructure, Inc. has a fifty-two week low of $55.45 and a fifty-two week high of $137.63. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.40 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.24. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. The company had revenue of $582.82 million for the quarter, compared to the consensus estimate of $553.70 million. During the same period in the previous year, the business earned $1.27 EPS. Equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.25 earnings per share for the current year.

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.