Renaissance Technologies LLC Sells 104,500 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Renaissance Technologies LLC lowered its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 9.7% during the 2nd quarter, Holdings Channel reports. The firm owned 971,654 shares of the construction company’s stock after selling 104,500 shares during the period. Renaissance Technologies LLC’s holdings in Sterling Infrastructure were worth $114,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Sterling Infrastructure by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company’s stock worth $208,242,000 after purchasing an additional 8,851 shares during the period. Congress Asset Management Co. MA lifted its holdings in Sterling Infrastructure by 2.0% during the first quarter. Congress Asset Management Co. MA now owns 557,659 shares of the construction company’s stock valued at $61,515,000 after purchasing an additional 10,935 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Sterling Infrastructure by 691.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock worth $61,040,000 after purchasing an additional 450,620 shares during the period. Hennessy Advisors Inc. increased its stake in shares of Sterling Infrastructure by 20.4% in the first quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock worth $48,558,000 after purchasing an additional 74,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sterling Infrastructure by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 367,905 shares of the construction company’s stock worth $32,350,000 after purchasing an additional 2,878 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $127.10 on Monday. Sterling Infrastructure, Inc. has a 12 month low of $55.45 and a 12 month high of $137.63. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.92 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.38 and a beta of 1.16. The company has a 50 day moving average of $114.03 and a 200 day moving average of $113.59.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data 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. The firm had revenue of $582.82 million during the quarter, compared to analysts’ expectations of $553.70 million. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. During the same period in the prior year, the business earned $1.27 EPS. As a group, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

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.