Sterling Infrastructure, Inc. (NASDAQ:STRL) Short Interest Down 23.0% in October

Sterling Infrastructure, Inc. (NASDAQ:STRL) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,040,000 shares, a decrease of 23.0% from the October 15th total of 1,350,000 shares. Based on an average trading volume of 304,000 shares, the short-interest ratio is presently 3.4 days.

Sterling Infrastructure Stock Down 1.3 %

Shares of Sterling Infrastructure stock traded down $2.36 on Friday, hitting $180.03. 375,533 shares of the company’s stock traded hands, compared to its average volume of 351,217. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average is $153.02 and its 200 day moving average is $129.17. The stock has a market cap of $5.53 billion, a P/E ratio of 30.41, a PEG ratio of 2.09 and a beta of 1.15. Sterling Infrastructure has a 52-week low of $62.13 and a 52-week high of $201.27.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.29. The company had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same quarter in the previous year, the firm earned $1.26 EPS. Equities analysts anticipate that Sterling Infrastructure will post 5.96 earnings per share for the current year.

Insider Transactions at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction 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 directly owns 248,471 shares in the company, valued at approximately $35,677,950.89. This represents a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

Institutional investors have recently made changes to their positions in the company. Chartwell Investment Partners LLC grew its holdings in shares of Sterling Infrastructure by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock valued at $1,299,000 after purchasing an additional 70 shares during the last quarter. Xponance Inc. lifted its stake in Sterling Infrastructure by 5.1% in the second quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock valued at $227,000 after buying an additional 93 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Sterling Infrastructure by 45.2% during the third quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock worth $44,000 after acquiring an additional 94 shares during the last quarter. EFG Asset Management North America Corp. increased its holdings in shares of Sterling Infrastructure by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company’s stock worth $2,985,000 after acquiring an additional 120 shares during the period. Finally, SummerHaven Investment Management LLC lifted its position in Sterling Infrastructure by 1.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company’s stock valued at $1,539,000 after purchasing an additional 124 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.