Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 22.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,048 shares of the construction company’s stock after selling 37,964 shares during the quarter. JPMorgan Chase & Co. owned about 0.42% of Sterling Infrastructure worth $18,860,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Sterling Infrastructure by 0.5% during the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock worth $104,431,000 after buying an additional 3,918 shares during the period. State Street Corp increased its holdings in Sterling Infrastructure by 0.7% in the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after purchasing an additional 5,106 shares during the last quarter. Congress Asset Management Co. raised its position in Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after purchasing an additional 104,096 shares during the period. Allspring Global Investments Holdings LLC raised its position in Sterling Infrastructure by 19.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock valued at $89,608,000 after purchasing an additional 102,101 shares during the period. Finally, Driehaus Capital Management LLC lifted its stake 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 worth $63,147,000 after purchasing an additional 54,727 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the sale, the director now owns 25,901 shares in the company, valued at $4,555,726.89. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

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

Sterling Infrastructure Stock Down 0.3 %

Shares of STRL opened at $167.05 on Friday. The company’s 50-day simple moving average is $180.98 and its 200-day simple moving average is $146.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. Sterling Infrastructure, Inc. has a 1 year low of $69.61 and a 1 year high of $203.49. The stock has a market capitalization of $5.13 billion, a PE ratio of 28.22, a P/E/G ratio of 2.02 and a beta of 1.26.

Sterling Infrastructure (NASDAQ:STRL) last announced 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. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The firm had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. During the same period in the prior year, the firm earned $1.26 EPS. Analysts forecast that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

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.