First Trust Advisors LP Raises Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

First Trust Advisors LP boosted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 74.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 356,339 shares of the construction company's stock after purchasing an additional 151,642 shares during the quarter. First Trust Advisors LP owned approximately 1.16% of Sterling Infrastructure worth $60,025,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Sterling Infrastructure during the 4th quarter worth approximately $39,000. Huntington National Bank grew its holdings in Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock worth $49,000 after purchasing an additional 74 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Sterling Infrastructure during the fourth quarter worth $56,000. Arcadia Investment Management Corp MI acquired a new position in shares of Sterling Infrastructure during the fourth quarter worth $71,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Sterling Infrastructure by 1,369.0% during the 4th quarter. Venturi Wealth Management LLC now owns 617 shares of the construction company's stock valued at $104,000 after purchasing an additional 575 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Price Performance

NASDAQ:STRL opened at $133.92 on Wednesday. The company has a 50 day moving average price of $123.91 and a 200-day moving average price of $154.35. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $206.07. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 1.28 and a beta of 1.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

Analysts Set New Price Targets

STRL has been the topic of a number of research analyst reports. William Blair assumed coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an "outperform" rating on the stock. DA Davidson raised shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 target price on the stock in a research report on Thursday, February 27th. Finally, StockNews.com cut shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

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.

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