KLP Kapitalforvaltning AS Takes $1.06 Million Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

KLP Kapitalforvaltning AS bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,300 shares of the construction company's stock, valued at approximately $1,061,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP lifted its holdings in 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 buying an additional 143 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Sterling Infrastructure in the fourth quarter valued at about $39,000. Arcadia Investment Management Corp MI acquired a new stake in Sterling Infrastructure during the 4th quarter valued at approximately $71,000. Venturi Wealth Management LLC boosted its stake in 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 acquiring an additional 575 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Sterling Infrastructure by 102.8% in the fourth quarter. IFP Advisors Inc now owns 657 shares of the construction company's stock valued at $111,000 after buying an additional 333 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on STRL. DA Davidson upgraded Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price objective for the company in a research note on Thursday, February 27th. StockNews.com raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, William Blair assumed coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They issued an "outperform" rating for the company.

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Sterling Infrastructure Stock Performance

Sterling Infrastructure stock traded down $7.33 during mid-day trading on Thursday, hitting $111.13. 365,226 shares of the company's stock traded hands, compared to its average volume of 411,607. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a one year low of $93.50 and a one year high of $206.07. The firm has a 50 day moving average price of $130.45 and a 200 day moving average price of $156.09. The company has a market cap of $3.38 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32.

Sterling Infrastructure Company 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.