Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC reduced its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,039 shares of the construction company’s stock after selling 133 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Sterling Infrastructure were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew 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 buying an additional 450,620 shares during the period. F M Investments LLC acquired a new position in Sterling Infrastructure during the second quarter worth $18,379,000. International Assets Investment Management LLC raised its holdings in Sterling Infrastructure by 14,112.0% during the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock worth $20,610,000 after purchasing an additional 141,120 shares during the last quarter. Congress Asset Management Co. raised its holdings in Sterling Infrastructure by 19.1% during the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after purchasing an additional 104,096 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Sterling Infrastructure by 190.0% during the second quarter. Sei Investments Co. now owns 89,573 shares of the construction company’s stock worth $10,600,000 after purchasing an additional 58,682 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Sterling Infrastructure Stock Down 0.5 %

STRL stock opened at $153.66 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. Sterling Infrastructure, Inc. has a 12 month low of $55.45 and a 12 month high of $170.50. The firm has a market capitalization of $4.72 billion, a PE ratio of 29.49, a P/E/G ratio of 1.82 and a beta of 1.15. The company’s 50 day simple moving average is $140.18 and its 200-day simple moving average is $124.10.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. The company 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 previous year, the firm posted $1.27 earnings per share. Equities analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Insider Activity at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the transaction, the executive vice president now owns 248,471 shares of the company’s stock, valued at $35,677,950.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure 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.