Charles Schwab Investment Management Inc. lessened its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,574 shares of the construction company's stock after selling 12,348 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.08% of Sterling Infrastructure worth $55,685,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of Sterling Infrastructure by 1,088.1% in the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock worth $51,561,000 after acquiring an additional 325,620 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Sterling Infrastructure in the 4th quarter worth about $47,712,000. WCM Investment Management LLC acquired a new stake in shares of Sterling Infrastructure in the 4th quarter worth about $18,019,000. Allspring Global Investments Holdings LLC increased its stake in Sterling Infrastructure by 7.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company's stock valued at $111,873,000 after buying an additional 49,008 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Sterling Infrastructure by 58.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company's stock valued at $18,682,000 after buying an additional 47,734 shares during the last quarter. Institutional investors own 80.95% of the company's stock.
Analyst Upgrades and Downgrades
STRL has been the subject of several analyst reports. William Blair initiated coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They issued an "outperform" rating for the company. 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 research note on Thursday, February 27th. Finally, StockNews.com upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th.
View Our Latest Analysis on STRL
Insider Buying and Selling
In related news, Director Dana C. O'brien sold 2,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 25,901 shares of the company's stock, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is owned by insiders.
Sterling Infrastructure Stock Performance
Shares of STRL stock traded up $3.56 during trading hours on Friday, hitting $121.37. 446,209 shares of the company were exchanged, compared to its average volume of 390,222. The firm has a fifty day simple moving average of $144.56 and a 200 day simple moving average of $155.73. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.28 and a beta of 1.32. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. 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 Company Profile
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Free Report)
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.
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