Bank of New York Mellon Corp Trims Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Bank of New York Mellon Corp lessened its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,625 shares of the construction company's stock after selling 10,484 shares during the quarter. Bank of New York Mellon Corp owned 0.29% of Sterling Infrastructure worth $15,097,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Sterling Infrastructure by 0.5% during the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company's stock valued at $104,431,000 after acquiring an additional 3,918 shares in the last quarter. State Street Corp lifted its stake in shares of Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company's stock worth $103,433,000 after buying an additional 5,106 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Sterling Infrastructure by 7.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company's stock valued at $111,873,000 after purchasing an additional 49,008 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Sterling Infrastructure by 4.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company's stock worth $55,248,000 after acquiring an additional 17,863 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Sterling Infrastructure by 1,088.1% during the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock worth $51,561,000 after purchasing an additional 325,620 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

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Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock traded up $1.37 on Thursday, hitting $117.81. The stock had a trading volume of 501,825 shares, compared to its average volume of 644,784. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. The company's 50 day moving average price is $146.68 and its 200 day moving average price is $155.43. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 1.28 and a beta of 1.32.

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dana C. O'brien sold 2,000 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now directly owns 25,901 shares of the company's stock, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com raised Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. William Blair started coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an "outperform" rating on the stock. Finally, DA Davidson upgraded shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price target for the company in a report on Thursday, February 27th.

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.