Essex Investment Management Co. LLC Trims Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Essex Investment Management Co. LLC trimmed its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 20.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,975 shares of the construction company’s stock after selling 11,892 shares during the quarter. Sterling Infrastructure accounts for approximately 1.1% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 15th biggest holding. Essex Investment Management Co. LLC owned 0.15% of Sterling Infrastructure worth $6,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new stake in Sterling Infrastructure during the second quarter worth about $30,000. Nisa Investment Advisors LLC lifted its stake in shares of Sterling Infrastructure by 391.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after purchasing an additional 219 shares during the period. Crewe Advisors LLC boosted its holdings in Sterling Infrastructure by 85.4% during the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. GAMMA Investing LLC increased its holdings in Sterling Infrastructure by 45.2% in the third quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock valued at $44,000 after buying an additional 94 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Sterling Infrastructure in the second quarter worth about $38,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Trading Up 1.1 %

Shares of NASDAQ:STRL opened at $157.10 on Friday. The business’s 50 day moving average price is $125.88 and its 200-day moving average price is $118.57. Sterling Infrastructure, Inc. has a 1 year low of $55.45 and a 1 year high of $157.37. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17. 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 (NASDAQ:STRL) last issued its quarterly earnings results 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. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. The firm had revenue of $582.82 million for the quarter, compared to analyst estimates of $553.70 million. During the same period in the previous year, the company posted $1.27 earnings per share. On average, equities research analysts forecast that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the sale, the executive vice president now owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.70% 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.