Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 64.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,070 shares of the construction company’s stock after selling 74,073 shares during the quarter. BNP Paribas Financial Markets owned about 0.13% of Sterling Infrastructure worth $3,611,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in STRL. SummerHaven Investment Management LLC lifted its holdings in shares of Sterling Infrastructure by 1.1% during 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 period. Swiss National Bank raised its stake in Sterling Infrastructure by 0.9% during the third quarter. Swiss National Bank now owns 67,700 shares of the construction company’s stock worth $4,975,000 after purchasing an additional 600 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Sterling Infrastructure in the 4th quarter valued at $60,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Sterling Infrastructure by 5.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 14,600 shares of the construction company’s stock valued at $1,073,000 after purchasing an additional 700 shares during the last quarter. Finally, Principal Street Partners LLC grew its stake in shares of Sterling Infrastructure by 21.0% during the 4th quarter. Principal Street Partners LLC now owns 4,210 shares of the construction company’s stock valued at $370,000 after buying an additional 732 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO Joseph A. Cutillo sold 33,214 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $108.71, for a total value of $3,610,693.94. Following the completion of the sale, the chief executive officer now directly owns 695,245 shares in the company, valued at approximately $75,580,083.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Joseph A. Cutillo sold 33,214 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $108.71, for a total value of $3,610,693.94. Following the completion of the sale, the chief executive officer now owns 695,245 shares of the company’s stock, valued at $75,580,083.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Mark D. Wolf sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $108.16, for a total value of $432,640.00. Following the sale, the general counsel now owns 31,048 shares in the company, valued at $3,358,151.68. The disclosure for this sale can be found here. In the last three months, insiders sold 198,172 shares of company stock valued at $22,019,320. Company insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Down 0.5 %

Shares of NASDAQ:STRL opened at $130.56 on Wednesday. The stock has a 50-day simple moving average of $110.47 and a 200-day simple moving average of $90.55. The stock has a market capitalization of $4.03 billion, a P/E ratio of 27.14, a PEG ratio of 1.22 and a beta of 1.21. Sterling Infrastructure, Inc. has a 1 year low of $43.65 and a 1 year high of $137.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.25.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. The firm had revenue of $485.98 million for the quarter, compared to analysts’ expectations of $526.90 million. Equities analysts forecast that Sterling Infrastructure, Inc. will post 5.3 earnings per share for the current year.

Sterling Infrastructure Profile

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.