Jacobs Levy Equity Management Inc. Sells 45,505 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Jacobs Levy Equity Management Inc. reduced its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 74.7% during the first quarter, HoldingsChannel reports. The firm owned 15,433 shares of the construction company’s stock after selling 45,505 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Sterling Infrastructure were worth $1,702,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Sterling Infrastructure by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company’s stock valued at $208,242,000 after purchasing an additional 8,851 shares in the last quarter. Congress Asset Management Co. MA boosted its position in Sterling Infrastructure by 2.0% during the 1st quarter. Congress Asset Management Co. MA now owns 557,659 shares of the construction company’s stock worth $61,515,000 after buying an additional 10,935 shares during the period. Hennessy Advisors Inc. boosted its position in Sterling Infrastructure by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock worth $48,558,000 after buying an additional 74,500 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Sterling Infrastructure by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 367,905 shares of the construction company’s stock worth $32,350,000 after buying an additional 2,878 shares during the period. Finally, First Trust Advisors LP boosted its position in Sterling Infrastructure by 17.6% during the 4th quarter. First Trust Advisors LP now owns 337,296 shares of the construction company’s stock worth $29,658,000 after buying an additional 50,573 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday.

Sterling Infrastructure Stock Up 5.7 %

Sterling Infrastructure stock opened at $116.36 on Thursday. 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, Inc. has a 52-week low of $55.45 and a 52-week high of $137.63. The firm has a 50 day moving average price of $117.87 and a two-hundred day moving average price of $106.39. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.40 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, May 6th. The construction company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.18. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. The firm had revenue of $440.36 million during the quarter, compared to analyst estimates of $453.30 million. Equities analysts predict that Sterling Infrastructure, Inc. will post 5.25 EPS for the current year.

Sterling Infrastructure Company 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.