Sterling Infrastructure (NASDAQ:STRL) Shares Down 9.7%

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) fell 9.7% during mid-day trading on Tuesday . The stock traded as low as $107.37 and last traded at $107.95. Approximately 100,382 shares changed hands during trading, a decline of 72% from the average session volume of 356,440 shares. The stock had previously closed at $119.53.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Friday, August 30th.

Sterling Infrastructure Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50-day moving average price of $114.13 and a 200 day moving average price of $112.21. The stock has a market capitalization of $3.37 billion, a P/E ratio of 22.72, a PEG ratio of 1.41 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.24. The business had revenue of $582.82 million for the quarter, compared to analysts’ expectations of $553.70 million. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. During the same period in the prior year, the firm posted $1.27 EPS. As a group, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new position in Sterling Infrastructure in the 2nd quarter valued at approximately $30,000. Nisa Investment Advisors LLC raised its stake in Sterling Infrastructure by 391.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after buying an additional 219 shares during the last quarter. Crewe Advisors LLC raised its stake in Sterling Infrastructure by 85.4% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. Family Firm Inc. purchased a new stake in Sterling Infrastructure during the 2nd quarter valued at $38,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Sterling Infrastructure during the 2nd quarter valued at $40,000. 80.95% of the stock is owned by institutional investors.

About Sterling Infrastructure

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.