Sterling Infrastructure, Inc. (NASDAQ:STRL) is Essex Investment Management Co. LLC's Largest Position

Essex Investment Management Co. LLC trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 18.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 152,294 shares of the construction company's stock after selling 34,508 shares during the quarter. Sterling Infrastructure comprises about 2.6% of Essex Investment Management Co. LLC's holdings, making the stock its biggest holding. Essex Investment Management Co. LLC owned 0.49% of Sterling Infrastructure worth $13,391,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of STRL. McGlone Suttner Wealth Management Inc. bought a new stake in Sterling Infrastructure in the 4th quarter worth about $60,000. AJOVista LLC bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $91,000. Cookson Peirce & Co. Inc. bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $212,000. Penobscot Investment Management Company Inc. bought a new stake in Sterling Infrastructure in the 4th quarter worth approximately $220,000. Finally, Avantax Advisory Services Inc. purchased a new stake in Sterling Infrastructure during the 4th quarter valued at $255,000. 80.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL traded up $3.71 during trading on Friday, hitting $128.87. The company's stock had a trading volume of 399,329 shares, compared to its average volume of 363,465. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.22 and a beta of 1.21. The company has a 50-day moving average of $107.67 and a 200-day moving average of $87.75. Sterling Infrastructure, Inc. has a 12 month low of $42.16 and a 12 month high of $129.25.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. The business had revenue of $485.98 million for the quarter, compared to the consensus estimate of $526.90 million. On average, sell-side analysts expect that Sterling Infrastructure, Inc. will post 5.3 earnings per share for the current year.

Insider Activity

In related news, CFO Ronald A. Ballschmiede sold 3,289 shares of the company's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $113.52, for a total transaction of $373,367.28. Following the transaction, the chief financial officer now directly owns 267,171 shares in the company, valued at approximately $30,329,251.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Mark D. Wolf sold 1,500 shares of the business's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $110.90, for a total transaction of $166,350.00. Following the completion of the sale, the general counsel now directly owns 29,548 shares of the company's stock, valued at $3,276,873.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald A. Ballschmiede sold 3,289 shares of the company's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $113.52, for a total transaction of $373,367.28. Following the completion of the transaction, the chief financial officer now owns 267,171 shares in the company, valued at $30,329,251.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,172 shares of company stock valued at $22,019,320. 3.70% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding STRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.