Joseph A. Cutillo Sells 38,322 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) Stock

Sterling Infrastructure, Inc. (NASDAQ:STRL) CEO Joseph A. Cutillo sold 38,322 shares of Sterling Infrastructure stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $112.81, for a total transaction of $4,323,104.82. Following the transaction, the chief executive officer now owns 488,133 shares of the company’s stock, valued at $55,066,283.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $110.31 on Friday. Sterling Infrastructure, Inc. has a twelve month low of $34.23 and a twelve month high of $116.36. The firm has a market cap of $3.41 billion, a P/E ratio of 24.79, a PEG ratio of 1.13 and a beta of 1.19. The company has a 50 day moving average of $93.52 and a 200 day moving average of $80.56. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.50.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. The company had revenue of $485.98 million during the quarter, compared to analyst estimates of $526.90 million. As a group, research analysts expect that Sterling Infrastructure, Inc. will post 4.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Sterling Infrastructure

A number of hedge funds have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its holdings in Sterling Infrastructure by 1.1% in the 4th quarter. SummerHaven Investment Management LLC now owns 12,763 shares of the construction company’s stock worth $1,122,000 after acquiring an additional 141 shares during the last quarter. Townsquare Capital LLC grew its position in Sterling Infrastructure by 0.9% in the 4th quarter. Townsquare Capital LLC now owns 19,833 shares of the construction company’s stock worth $1,744,000 after purchasing an additional 183 shares during the period. Ameritas Investment Partners Inc. grew its position in Sterling Infrastructure by 9.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,474 shares of the construction company’s stock worth $138,000 after purchasing an additional 206 shares during the period. FMR LLC grew its position in Sterling Infrastructure by 53.5% in the 1st quarter. FMR LLC now owns 674 shares of the construction company’s stock worth $26,000 after purchasing an additional 235 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Sterling Infrastructure by 1.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,661 shares of the construction company’s stock worth $821,000 after purchasing an additional 329 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.