Hancock Whitney Corp Sells 7,274 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Hancock Whitney Corp reduced its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 67.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,533 shares of the construction company’s stock after selling 7,274 shares during the period. Hancock Whitney Corp’s holdings in Sterling Infrastructure were worth $418,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Sterling Infrastructure by 691.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock worth $61,040,000 after purchasing an additional 450,620 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Sterling Infrastructure during the fourth quarter worth about $32,156,000. Vanguard Group Inc. grew its stake in Sterling Infrastructure by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock valued at $165,215,000 after acquiring an additional 156,225 shares during the period. F M Investments LLC bought a new stake in shares of Sterling Infrastructure in the second quarter worth about $18,379,000. Finally, Sei Investments Co. raised its position in shares of Sterling Infrastructure by 190.0% during the second quarter. Sei Investments Co. now owns 89,573 shares of the construction company’s stock worth $10,600,000 after purchasing an additional 58,682 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Trading Up 0.5 %

Shares of NASDAQ:STRL opened at $148.90 on Tuesday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.38 and a beta of 1.16. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. Sterling Infrastructure, Inc. has a 12 month low of $55.45 and a 12 month high of $152.00. The company’s fifty day simple moving average is $116.67 and its 200 day simple moving average is $114.87.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. The company had revenue of $582.82 million for the quarter, compared to analyst estimates of $553.70 million. During the same period in the previous year, the company posted $1.27 earnings per share. As a group, research analysts forecast that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the sale, the executive vice president now owns 248,471 shares of the company’s stock, valued at $35,677,950.89. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

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.