Connor Clark & Lunn Investment Management Ltd. Reduces Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 27.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,033 shares of the construction company's stock after selling 33,678 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.29% of Sterling Infrastructure worth $14,998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quarry LP increased its position in shares of Sterling Infrastructure by 510.7% during the third quarter. Quarry LP now owns 171 shares of the construction company's stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. Huntington National Bank increased its position in shares of Sterling Infrastructure by 21,300.0% during the third quarter. Huntington National Bank now owns 214 shares of the construction company's stock valued at $31,000 after acquiring an additional 213 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Sterling Infrastructure during the fourth quarter valued at approximately $39,000. Arcadia Investment Management Corp MI bought a new stake in shares of Sterling Infrastructure during the fourth quarter valued at approximately $71,000. Finally, Private Trust Co. NA bought a new stake in shares of Sterling Infrastructure during the third quarter valued at approximately $78,000. Institutional investors own 80.95% of the company's stock.

Wall Street Analyst Weigh In

STRL has been the subject of several analyst reports. 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. William Blair initiated coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They set an "outperform" rating for the company. Finally, StockNews.com raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th.

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Insider Buying and Selling

In other news, Director Dana C. O'brien sold 2,000 shares of Sterling Infrastructure stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the transaction, the director now owns 25,901 shares in the company, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Stock Performance

STRL stock traded up $3.56 on Friday, hitting $121.37. The company had a trading volume of 446,209 shares, compared to its average volume of 390,222. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month 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. The stock's 50-day simple moving average is $144.56 and its 200 day simple moving average is $155.73. The stock has a market cap 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.

About Sterling Infrastructure

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.