Cibc World Markets Corp Purchases Shares of 2,791 Sterling Infrastructure, Inc. (NASDAQ:STRL)

Cibc World Markets Corp acquired a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,791 shares of the construction company's stock, valued at approximately $470,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kovack Advisors Inc. boosted its stake in shares of Sterling Infrastructure by 3.2% in the 4th quarter. Kovack Advisors Inc. now owns 2,914 shares of the construction company's stock valued at $491,000 after purchasing an additional 91 shares during the last quarter. Willis Investment Counsel increased its holdings in shares of Sterling Infrastructure by 1.4% in the fourth quarter. Willis Investment Counsel now owns 7,535 shares of the construction company's stock worth $1,269,000 after acquiring an additional 101 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Sterling Infrastructure by 7.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,980 shares of the construction company's stock worth $334,000 after acquiring an additional 137 shares in the last quarter. Quarry LP grew its holdings in shares of Sterling Infrastructure by 510.7% during the third quarter. Quarry LP now owns 171 shares of the construction company's stock worth $25,000 after buying an additional 143 shares in the last quarter. Finally, Aprio Wealth Management LLC raised its holdings in shares of Sterling Infrastructure by 5.4% in the fourth quarter. Aprio Wealth Management LLC now owns 3,161 shares of the construction company's stock valued at $532,000 after purchasing an additional 161 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

STRL has been the subject of several research reports. William Blair began coverage on Sterling Infrastructure in a report on Friday, January 17th. They set an "outperform" rating for the company. StockNews.com cut Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Monday. Finally, DA Davidson raised 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 report on Thursday, February 27th.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock traded down $2.48 during mid-day trading on Tuesday, hitting $131.47. 311,101 shares of the company traded hands, compared to its average volume of 394,202. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a fifty day moving average price of $139.49 and a 200-day moving average price of $156.20. Sterling Infrastructure, Inc. has a one year low of $93.50 and a one year high of $206.07. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32.

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.