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

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of Sterling Infrastructure by 0.5% during the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company's stock valued at $104,431,000 after purchasing an additional 3,918 shares in the last quarter. State Street Corp grew its stake in shares of Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company's stock worth $103,433,000 after acquiring an additional 5,106 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Sterling Infrastructure by 7.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company's stock valued at $111,873,000 after acquiring an additional 49,008 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Sterling Infrastructure by 4.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company's stock worth $55,248,000 after purchasing an additional 17,863 shares during the last quarter. Finally, GW&K Investment Management LLC raised its position in shares of Sterling Infrastructure by 3.4% in the 4th quarter. GW&K Investment Management LLC now owns 363,251 shares of the construction company's stock worth $61,190,000 after purchasing an additional 12,064 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, Director Dana C. O'brien sold 2,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the sale, the director now owns 25,901 shares of the company's stock, valued at $4,555,726.89. This represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on STRL shares. DA Davidson raised shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 target price for the company in a report on Thursday, February 27th. StockNews.com raised Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, William Blair started coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an "outperform" rating for the company.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL traded up $3.56 during midday trading on Friday, hitting $121.37. 446,209 shares of the stock traded hands, compared to its average volume of 390,778. The firm has a market capitalization of $3.71 billion, a P/E ratio of 20.50, a PEG ratio of 1.28 and a beta of 1.32. Sterling Infrastructure, Inc. has a one year low of $93.50 and a one year high of $206.07. 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 firm has a 50-day moving average of $145.68 and a two-hundred day moving average of $155.17.

Sterling Infrastructure 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.