Sterling Infrastructure, Inc. (NASDAQ:STRL) Short Interest Down 32.0% in August

Sterling Infrastructure, Inc. (NASDAQ:STRL) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 368,800 shares, a drop of 32.0% from the August 15th total of 542,500 shares. Based on an average daily trading volume, of 395,700 shares, the days-to-cover ratio is presently 0.9 days.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $74.00 on Friday. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.26 and a quick ratio of 1.26. The business’s 50 day simple moving average is $70.62 and its 200-day simple moving average is $53.12. Sterling Infrastructure has a 12 month low of $20.46 and a 12 month high of $84.00.

Sterling Infrastructure (NASDAQ:STRL) last posted its earnings results on Monday, August 7th. The construction company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.34. The company had revenue of $522.33 million for the quarter, compared to the consensus estimate of $491.50 million. Sterling Infrastructure had a return on equity of 22.25% and a net margin of 6.23%. As a group, equities analysts forecast that Sterling Infrastructure will post 4.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. DA Davidson raised their target price on Sterling Infrastructure from $52.00 to $65.00 in a report on Monday, July 3rd. StockNews.com started coverage on shares of Sterling Infrastructure in a research note on Thursday, August 17th. They issued a “buy” rating for the company.

Insider Buying and Selling

In related news, CFO Ronald A. Ballschmiede sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $52.07, for a total value of $5,207,000.00. Following the completion of the sale, the chief financial officer now owns 272,023 shares in the company, valued at $14,164,237.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sterling Infrastructure

Several institutional investors and hedge funds have recently made changes to their positions in the business. Portside Wealth Group LLC acquired a new position in Sterling Infrastructure during the second quarter worth about $596,000. Delphi Management Inc. MA acquired a new position in shares of Sterling Infrastructure during the 2nd quarter worth approximately $1,340,000. Osaic Holdings Inc. raised its position in shares of Sterling Infrastructure by 88.2% during the 2nd quarter. Osaic Holdings Inc. now owns 21,980 shares of the construction company’s stock worth $1,226,000 after purchasing an additional 10,301 shares during the last quarter. Legato Capital Management LLC grew its holdings in Sterling Infrastructure by 10.2% during the 2nd quarter. Legato Capital Management LLC now owns 73,177 shares of the construction company’s stock valued at $4,083,000 after buying an additional 6,794 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Sterling Infrastructure by 262.5% in the second quarter. Goldman Sachs Group Inc. now owns 355,421 shares of the construction company’s stock worth $19,832,000 after acquiring an additional 257,364 shares during the last quarter. 80.89% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the e-infrastructure, transportation, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.