Congress Wealth Management LLC DE Decreases Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Congress Wealth Management LLC DE reduced its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 24.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,452 shares of the construction company's stock after selling 28,022 shares during the period. Congress Wealth Management LLC DE owned approximately 0.29% of Sterling Infrastructure worth $14,900,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Sterling Infrastructure by 30.0% in the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock worth $425,135,000 after purchasing an additional 581,847 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock worth $51,561,000 after buying an additional 325,620 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Sterling Infrastructure in the fourth quarter worth $47,712,000. WCM Investment Management LLC bought a new stake in Sterling Infrastructure during the fourth quarter valued at $18,019,000. Finally, Raymond James Financial Inc. purchased a new position in Sterling Infrastructure during the fourth quarter worth about $16,712,000. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Price Performance

Shares of STRL traded down $0.85 during midday trading on Friday, reaching $116.15. The stock had a trading volume of 594,798 shares, compared to its average volume of 407,082. 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 market capitalization of $3.55 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company's 50-day moving average is $135.10 and its 200 day moving average is $155.92. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month high of $206.07.

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Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STRL. DA Davidson upgraded 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. StockNews.com lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Monday. Finally, William Blair began coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They issued an "outperform" rating on the stock.

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.