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

Congress Wealth Management LLC DE cut its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,452 shares of the construction company's stock after selling 28,022 shares during the quarter. Congress Wealth Management LLC DE owned approximately 0.29% of Sterling Infrastructure worth $14,900,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in STRL. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 581,847 shares during the last quarter. Principal Financial Group Inc. boosted its stake in 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 purchasing an additional 325,620 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Sterling Infrastructure during the 4th quarter valued at about $47,712,000. WCM Investment Management LLC bought a new stake in shares of Sterling Infrastructure during the fourth quarter valued at about $18,019,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Sterling Infrastructure in the fourth quarter worth about $16,712,000. 80.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. DA Davidson raised 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. StockNews.com cut Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Monday. Finally, William Blair started coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They issued an "outperform" rating on the stock.

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Sterling Infrastructure Stock Performance

STRL traded down $2.66 during mid-day trading on Tuesday, reaching $131.29. 538,290 shares of the company traded hands, compared to its average volume of 394,429. The company's fifty day moving average price is $139.49 and its 200-day moving average price is $156.20. The stock has a market capitalization of $4.02 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.28 and a beta of 1.32. The company has a quick ratio of 1.29, a current 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.

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.