Argent Trust Co Trims Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Argent Trust Co cut its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,848 shares of the construction company’s stock after selling 352 shares during the period. Argent Trust Co’s holdings in Sterling Infrastructure were worth $929,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Sterling Infrastructure by 29.4% in the fourth quarter. Principal Financial Group Inc. now owns 17,381 shares of the construction company’s stock worth $1,528,000 after purchasing an additional 3,947 shares in the last quarter. Avantax Advisory Services Inc. purchased a new stake in Sterling Infrastructure in the 4th quarter worth $255,000. Gladstone Institutional Advisory LLC bought a new stake in Sterling Infrastructure during the fourth quarter valued at about $331,000. D.A. Davidson & CO. lifted its position in shares of Sterling Infrastructure by 23.0% in the fourth quarter. D.A. Davidson & CO. now owns 58,945 shares of the construction company’s stock valued at $5,183,000 after acquiring an additional 11,030 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Sterling Infrastructure in the fourth quarter worth about $222,000. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

STRL stock opened at $147.62 on Friday. The company has a market capitalization of $4.56 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The company’s fifty day moving average price is $115.76 and its 200-day moving average price is $114.26. Sterling Infrastructure, Inc. has a one year low of $55.45 and a one year high of $148.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.43 by $0.24. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. The business had revenue of $582.82 million during the quarter, compared to the consensus estimate of $553.70 million. During the same quarter in the prior year, the firm earned $1.27 EPS. On average, equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.