Insider Selling: Sterling Infrastructure, Inc. (NASDAQ:STRL) CEO Sells $4,549,270.62 in Stock

Sterling Infrastructure, Inc. (NASDAQ:STRLGet Free Report) CEO Joseph A. Cutillo sold 40,713 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $111.74, for a total transaction of $4,549,270.62. Following the completion of the sale, the chief executive officer now directly owns 606,455 shares of the company’s stock, valued at $67,765,281.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Sterling Infrastructure Price Performance

NASDAQ STRL opened at $112.03 on Friday. The company has a 50 day simple moving average of $90.84 and a 200-day simple moving average of $79.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. Sterling Infrastructure, Inc. has a 52-week low of $34.23 and a 52-week high of $116.36.

Sterling Infrastructure (NASDAQ:STRLGet Free Report) last issued its quarterly earnings data on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.30. The firm had revenue of $485.98 million for the quarter, compared to analyst estimates of $526.90 million. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. Equities research analysts predict that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a “neutral” rating and issued a $115.00 price target (up from $86.00) on shares of Sterling Infrastructure in a research report on Wednesday, February 28th.

Read Our Latest Stock Analysis on STRL

Hedge Funds Weigh In On Sterling Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund raised its position in Sterling Infrastructure by 60.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 53,000 shares of the construction company’s stock valued at $4,660,000 after acquiring an additional 20,000 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $32,156,000. Vanguard Group Inc. raised its position in Sterling Infrastructure by 9.1% during 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 in the last quarter. Wellington Management Group LLP raised its position in Sterling Infrastructure by 24.7% during the fourth quarter. Wellington Management Group LLP now owns 78,236 shares of the construction company’s stock valued at $6,879,000 after acquiring an additional 15,510 shares in the last quarter. Finally, Tucker Asset Management LLC bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $115,000. Institutional investors own 80.89% of the company’s stock.

Sterling Infrastructure Company Profile

(Get Free Report)

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.

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