Assenagon Asset Management S.A. Decreases Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Assenagon Asset Management S.A. lowered its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 11.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,469 shares of the construction company’s stock after selling 29,603 shares during the quarter. Assenagon Asset Management S.A. owned about 0.73% of Sterling Infrastructure worth $26,564,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of STRL. International Assets Investment Management LLC increased its holdings in shares of Sterling Infrastructure by 8,693.0% during the fourth quarter. International Assets Investment Management LLC now owns 87,930 shares of the construction company’s stock valued at $7,732,000 after acquiring an additional 86,930 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Sterling Infrastructure during the fourth quarter valued at about $294,000. Cookson Peirce & Co. Inc. acquired a new position in shares of Sterling Infrastructure during the fourth quarter valued at about $212,000. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Sterling Infrastructure by 44.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 54,220 shares of the construction company’s stock valued at $4,768,000 after acquiring an additional 16,556 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in shares of Sterling Infrastructure during the fourth quarter valued at about $651,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

NASDAQ:STRL traded down $2.74 during midday trading on Friday, hitting $111.93. The company’s stock had a trading volume of 227,804 shares, compared to its average volume of 368,376. Sterling Infrastructure, Inc. has a fifty-two week low of $55.45 and a fifty-two week high of $137.63. The firm’s 50 day moving average is $114.85 and its 200-day moving average is $108.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $3.45 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.40 and a beta of 1.19.

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. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. The company had revenue of $582.82 million for the quarter, compared to the consensus estimate of $553.70 million. During the same quarter in the prior year, the company earned $1.27 EPS. Equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

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.