Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.2% – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price fell 5.2% on Thursday . The stock traded as low as $132.48 and last traded at $133.03. 111,473 shares changed hands during trading, a decline of 75% from the average session volume of 448,602 shares. The stock had previously closed at $140.40.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STRL. StockNews.com lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. William Blair began coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating on the stock.

Sterling Infrastructure Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50 day simple moving average is $166.52 and its two-hundred day simple moving average is $153.71. The stock has a market cap of $4.07 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Trading of Sterling Infrastructure

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Sterling Infrastructure by 30.0% in the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock valued at $425,135,000 after purchasing an additional 581,847 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Sterling Infrastructure by 22.5% in the fourth quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock valued at $127,563,000 after purchasing an additional 139,081 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sterling Infrastructure by 0.5% in the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after purchasing an additional 3,918 shares during the last quarter. State Street Corp raised its holdings in shares of Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after purchasing an additional 5,106 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Sterling Infrastructure by 7.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock valued at $111,873,000 after purchasing an additional 49,008 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

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.