Castleark Management LLC Cuts Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Castleark Management LLC decreased its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 40.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,866 shares of the construction company’s stock after selling 28,238 shares during the period. Castleark Management LLC’s holdings in Sterling Infrastructure were worth $4,508,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Atticus Wealth Management LLC purchased a new stake in shares of Sterling Infrastructure during the first quarter worth $55,000. AJOVista LLC bought a new position in shares of Sterling Infrastructure in the fourth quarter worth $91,000. Covestor Ltd increased its holdings in shares of Sterling Infrastructure by 127.0% in the first quarter. Covestor Ltd now owns 867 shares of the construction company’s stock worth $96,000 after purchasing an additional 485 shares during the period. Tucker Asset Management LLC bought a new position in shares of Sterling Infrastructure in the fourth quarter worth $115,000. Finally, EntryPoint Capital LLC increased its holdings in shares of Sterling Infrastructure by 14.1% in the first quarter. EntryPoint Capital LLC now owns 1,673 shares of the construction company’s stock worth $185,000 after purchasing an additional 207 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock traded down $6.75 during trading on Thursday, hitting $109.61. The stock had a trading volume of 113,479 shares, compared to its average volume of 360,761. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.40 and a beta of 1.19. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.53. Sterling Infrastructure, Inc. has a 12 month low of $55.45 and a 12 month high of $137.63. The business’s 50-day moving average is $117.87 and its 200 day moving average is $106.39.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, May 6th. The construction company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. The business had revenue of $440.36 million for the quarter, compared to analysts’ expectations of $453.30 million. Sterling Infrastructure had a return on equity of 25.06% and a net margin of 7.47%. As a group, sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 5.25 earnings per share for the current 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.