Essex Investment Management Co. LLC Decreases Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Essex Investment Management Co. LLC lessened its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,683 shares of the construction company's stock after selling 7,292 shares during the quarter. Sterling Infrastructure comprises about 1.1% of Essex Investment Management Co. LLC's holdings, making the stock its 16th largest holding. Essex Investment Management Co. LLC owned 0.12% of Sterling Infrastructure worth $6,348,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in STRL. Quarry LP increased its stake in shares of Sterling Infrastructure by 510.7% in the 3rd quarter. Quarry LP now owns 171 shares of the construction company's stock worth $25,000 after acquiring an additional 143 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Sterling Infrastructure in the third quarter valued at about $26,000. Huntington National Bank increased its position in Sterling Infrastructure by 21,300.0% during the third quarter. Huntington National Bank now owns 214 shares of the construction company's stock worth $31,000 after purchasing an additional 213 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Sterling Infrastructure during the fourth quarter worth about $39,000. Finally, Arcadia Investment Management Corp MI purchased a new position in Sterling Infrastructure during the fourth quarter worth about $71,000. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 2,000 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the transaction, the director now directly owns 25,901 shares in the company, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.80% of the stock is owned by insiders.

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Sterling Infrastructure Trading Up 1.2 %

Shares of Sterling Infrastructure stock traded up $1.37 on Thursday, reaching $117.81. The company had a trading volume of 501,825 shares, compared to its average volume of 644,784. The firm's 50 day moving average price is $146.68 and its two-hundred day moving average price is $155.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. The firm has a market cap of $3.61 billion, a PE ratio of 19.90, a PEG ratio of 1.28 and a beta of 1.32.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STRL. DA Davidson upgraded shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price target 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 research note on Thursday, March 6th. Finally, William Blair assumed coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an "outperform" rating on the stock.

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.