Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 82.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 38,819 shares of the construction company’s stock after selling 185,650 shares during the quarter. Assenagon Asset Management S.A. owned 0.13% of Sterling Infrastructure worth $6,539,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP grew its holdings in Sterling Infrastructure by 510.7% during the third quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after acquiring an additional 143 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Sterling Infrastructure in the 3rd quarter worth approximately $26,000. Huntington National Bank grew its stake in shares of Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after purchasing an additional 213 shares during the last quarter. Signaturefd LLC lifted its stake in Sterling Infrastructure by 119.3% during the third quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock valued at $43,000 after purchasing an additional 161 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Sterling Infrastructure during the third quarter valued at approximately $44,000. Institutional investors own 80.95% of the company’s stock.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the sale, the director now directly owns 25,901 shares in the company, valued at $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Separately, William Blair began coverage on Sterling Infrastructure in a report on Friday. They issued an “outperform” rating on the stock.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock opened at $182.51 on Monday. Sterling Infrastructure, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $203.49. The firm’s 50 day simple moving average is $181.83 and its 200-day simple moving average is $148.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $5.61 billion, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.29. The firm had revenue of $593.74 million during the quarter, compared to analyst estimates of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same period last year, the company posted $1.26 EPS. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.96 EPS for the current 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.