283,241 Shares in Sterling Infrastructure, Inc. (NASDAQ:STRL) Purchased by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 283,241 shares of the construction company's stock, valued at approximately $47,712,000. Sterling Infrastructure accounts for approximately 1.7% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' investment portfolio, making the stock its 12th largest position. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned 0.92% of Sterling Infrastructure as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company's stock worth $103,433,000 after purchasing an additional 5,106 shares during the period. Bay Rivers Group purchased a new stake in Sterling Infrastructure during the 4th quarter worth $341,000. Allspring Global Investments Holdings LLC boosted its position in Sterling Infrastructure by 7.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company's stock worth $111,873,000 after purchasing an additional 49,008 shares during the period. Park Avenue Securities LLC purchased a new stake in Sterling Infrastructure during the 4th quarter worth $253,000. Finally, Spire Wealth Management boosted its position in Sterling Infrastructure by 265.1% in the 4th quarter. Spire Wealth Management now owns 8,792 shares of the construction company's stock valued at $1,481,000 after buying an additional 6,384 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STRL has been the subject of a number of analyst reports. StockNews.com raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Thursday. William Blair initiated coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They issued an "outperform" rating for the company.

Sterling Infrastructure Stock Down 6.4 %

NASDAQ:STRL traded down $7.98 on Friday, reaching $116.29. The stock had a trading volume of 666,481 shares, compared to its average volume of 508,854. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $160.76 and a 200 day moving average of $154.31. The stock has a market cap of $3.57 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24. Sterling Infrastructure, Inc. has a 12-month low of $83.40 and a 12-month high of $206.07.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 2,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the sale, the director now owns 25,901 shares in the company, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by corporate 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.