Seven Eight Capital LP Cuts Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Seven Eight Capital LP reduced its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 37.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,607 shares of the construction company’s stock after selling 5,700 shares during the period. Seven Eight Capital LP’s holdings in Sterling Infrastructure were worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Mutual of America Capital Management LLC grew its position in Sterling Infrastructure by 31.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 51,280 shares of the construction company’s stock valued at $6,068,000 after acquiring an additional 12,225 shares in the last quarter. Guardian Wealth Management Inc. grew its holdings in shares of Sterling Infrastructure by 2.7% in the second quarter. Guardian Wealth Management Inc. now owns 44,842 shares of the construction company’s stock valued at $5,307,000 after purchasing an additional 1,161 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Sterling Infrastructure by 16.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 59,186 shares of the construction company’s stock worth $7,004,000 after buying an additional 8,151 shares during the period. Thoroughbred Financial Services LLC boosted its position in Sterling Infrastructure by 13.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 11,752 shares of the construction company’s stock valued at $1,390,000 after buying an additional 1,385 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in shares of Sterling Infrastructure by 18.4% in the second quarter. Meeder Asset Management Inc. now owns 2,070 shares of the construction company’s stock worth $245,000 after acquiring an additional 321 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Up 0.4 %

Shares of NASDAQ:STRL opened at $148.16 on Friday. Sterling Infrastructure, Inc. has a fifty-two week low of $55.45 and a fifty-two week high of $152.00. The firm’s 50 day moving average price is $116.28 and its 200 day moving average price is $114.52. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16.

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, topping the consensus estimate of $1.43 by $0.24. The business had revenue of $582.82 million during the quarter, compared to analysts’ expectations of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same period in the previous year, the company earned $1.27 EPS. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Sterling Infrastructure from a “buy” rating to a “hold” rating in a report 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.