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

Essex Investment Management Co. LLC cut its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 20.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,975 shares of the construction company’s stock after selling 11,892 shares during the period. Sterling Infrastructure makes up 1.1% of Essex Investment Management Co. LLC’s holdings, making the stock its 15th biggest holding. Essex Investment Management Co. LLC’s holdings in Sterling Infrastructure were worth $6,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tucker Asset Management LLC acquired a new position in Sterling Infrastructure in the fourth quarter valued at approximately $115,000. Wellington Management Group LLP increased its position in shares of Sterling Infrastructure by 24.7% during the 4th quarter. Wellington Management Group LLP now owns 78,236 shares of the construction company’s stock worth $6,879,000 after purchasing an additional 15,510 shares during the last quarter. Vanguard Group Inc. raised its holdings in Sterling Infrastructure by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock valued at $165,215,000 after buying an additional 156,225 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Sterling Infrastructure by 60.6% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 53,000 shares of the construction company’s stock valued at $4,660,000 after buying an additional 20,000 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Sterling Infrastructure by 60.4% during the first quarter. Los Angeles Capital Management LLC now owns 13,787 shares of the construction company’s stock worth $1,521,000 after buying an additional 5,193 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure 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 in the company, valued at $35,677,950.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Sterling Infrastructure Stock Up 1.1 %

Sterling Infrastructure stock opened at $157.10 on Friday. The firm has a market capitalization of $4.85 billion, a P/E ratio of 32.66, a P/E/G ratio of 1.82 and a beta of 1.17. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44. Sterling Infrastructure, Inc. has a twelve month low of $55.45 and a twelve month high of $157.37. The stock’s fifty day simple moving average is $125.88 and its 200-day simple moving average is $118.57.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.24. The company had revenue of $582.82 million for the quarter, compared to the consensus estimate of $553.70 million. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. During the same quarter in the prior year, the business earned $1.27 EPS. As a group, equities analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal 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.