Foundry Partners LLC Decreases Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Foundry Partners LLC cut its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 15.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 132,405 shares of the construction company’s stock after selling 23,375 shares during the quarter. Foundry Partners LLC owned about 0.43% of Sterling Infrastructure worth $7,388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Sterling Infrastructure by 53.5% in the first quarter. FMR LLC now owns 674 shares of the construction company’s stock valued at $26,000 after buying an additional 235 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Sterling Infrastructure by 50.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,274 shares of the construction company’s stock valued at $27,000 after purchasing an additional 427 shares during the period. Dorsey Wright & Associates acquired a new position in shares of Sterling Infrastructure in the fourth quarter valued at about $34,000. International Assets Investment Management LLC acquired a new position in shares of Sterling Infrastructure in the first quarter valued at about $38,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Sterling Infrastructure in the first quarter valued at about $38,000. 80.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com assumed coverage on Sterling Infrastructure in a report on Thursday, August 17th. They issued a “buy” rating on the stock. DA Davidson increased their price objective on Sterling Infrastructure from $52.00 to $65.00 in a report on Monday, July 3rd.

Sterling Infrastructure Stock Up 2.1 %

Sterling Infrastructure stock opened at $75.54 on Tuesday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 0.90 and a beta of 1.31. Sterling Infrastructure, Inc. has a 52 week low of $20.46 and a 52 week high of $84.00. The business’s 50-day moving average price is $70.96 and its 200 day moving average price is $53.46. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.61.

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

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 stock was sold at an average price of $52.07, for a total transaction of $5,207,000.00. Following the sale, the chief financial officer now directly owns 272,023 shares of the company’s stock, valued at $14,164,237.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is owned by corporate insiders.

About Sterling Infrastructure

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.