Sterling Infrastructure (NASDAQ:STRL) Lowered to Hold at StockNews.com

StockNews.com cut shares of Sterling Infrastructure (NASDAQ:STRL) from a buy rating to a hold rating in a research note published on Friday.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $119.53 on Friday. 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 has a 1 year low of $55.45 and a 1 year high of $137.63. The business has a fifty day simple moving average of $114.45 and a 200 day simple moving average of $111.40. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 1.40 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.06% and a net margin of 7.47%. The business had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. During the same period last year, the company earned $1.27 earnings per share. As a group, sell-side analysts predict that Sterling Infrastructure will post 5.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sterling Infrastructure

Several institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers raised its holdings in Sterling Infrastructure by 12.4% during the second quarter. Cetera Investment Advisers now owns 12,149 shares of the construction company’s stock valued at $1,438,000 after buying an additional 1,341 shares in the last quarter. Invst LLC raised its holdings in Sterling Infrastructure by 60.5% during the second quarter. Invst LLC now owns 5,849 shares of the construction company’s stock valued at $671,000 after buying an additional 2,205 shares in the last quarter. Creative Planning bought a new position in Sterling Infrastructure during the second quarter valued at about $361,000. Driehaus Capital Management LLC raised its holdings in Sterling Infrastructure by 11.4% during the second quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company’s stock valued at $63,147,000 after buying an additional 54,727 shares in the last quarter. Finally, Cim Investment Management Inc. bought a new position in Sterling Infrastructure during the second quarter valued at about $278,000. 80.95% of the stock is currently 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.