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

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

Insider Buying and Selling at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the sale, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at $35,677,950.89. This trade represents a 7.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Sterling Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of STRL. Allspring Global Investments Holdings LLC increased its stake in shares of Sterling Infrastructure by 691.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock valued at $61,040,000 after acquiring an additional 450,620 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after buying an additional 325,620 shares during the last quarter. F M Investments LLC purchased a new position in shares of Sterling Infrastructure in the 2nd quarter worth $18,379,000. International Assets Investment Management LLC boosted its holdings in Sterling Infrastructure by 14,112.0% in the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock valued at $20,610,000 after acquiring an additional 141,120 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in Sterling Infrastructure by 19.1% during the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after acquiring an additional 104,096 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Price Performance

NASDAQ STRL traded down $2.36 during trading hours on Friday, reaching $180.03. The company’s stock had a trading volume of 375,533 shares, compared to its average volume of 351,217. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.24 and a current ratio of 1.29. The stock has a market cap of $5.53 billion, a PE ratio of 30.41, a PEG ratio of 2.09 and a beta of 1.15. The company’s 50-day moving average is $153.02 and its two-hundred day moving average is $129.17. Sterling Infrastructure has a fifty-two week low of $62.13 and a fifty-two week high of $201.27.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. The firm had revenue of $593.74 million for the quarter, compared to analysts’ expectations of $599.90 million. During the same quarter in the prior year, the firm earned $1.26 EPS. Analysts forecast that Sterling Infrastructure will post 5.96 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.