JPMorgan Chase & Co. Purchases 40,661 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

JPMorgan Chase & Co. lifted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 31.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,709 shares of the construction company's stock after purchasing an additional 40,661 shares during the quarter. JPMorgan Chase & Co. owned 0.56% of Sterling Infrastructure worth $28,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kovack Advisors Inc. lifted its stake in Sterling Infrastructure by 3.2% in the fourth quarter. Kovack Advisors Inc. now owns 2,914 shares of the construction company's stock valued at $491,000 after buying an additional 91 shares in the last quarter. Willis Investment Counsel lifted its position in Sterling Infrastructure by 1.4% in the 4th quarter. Willis Investment Counsel now owns 7,535 shares of the construction company's stock valued at $1,269,000 after acquiring an additional 101 shares in the last quarter. Xponance Inc. boosted its stake in Sterling Infrastructure by 6.5% in the 4th quarter. Xponance Inc. now owns 2,144 shares of the construction company's stock worth $361,000 after purchasing an additional 131 shares during the period. PNC Financial Services Group Inc. increased its holdings in Sterling Infrastructure by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,980 shares of the construction company's stock worth $334,000 after purchasing an additional 137 shares in the last quarter. Finally, Quarry LP raised 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 valued at $25,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

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Wall Street Analysts Forecast Growth

STRL has been the subject of several recent research reports. William Blair initiated coverage on Sterling Infrastructure in a research report on Friday, January 17th. They set an "outperform" rating for 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 report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Wednesday.

Sterling Infrastructure Stock Up 3.5 %

NASDAQ:STRL traded up $4.68 on Friday, hitting $137.09. 562,061 shares of the company's stock were exchanged, compared to its average volume of 440,659. The firm has a 50-day moving average price of $124.81 and a 200-day moving average price of $154.79. Sterling Infrastructure, Inc. has a 52 week low of $93.50 and a 52 week high of $206.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $4.17 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.19.

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.