Kornitzer Capital Management Inc. KS Acquires 6,140 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Kornitzer Capital Management Inc. KS boosted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,760 shares of the construction company's stock after acquiring an additional 6,140 shares during the period. Kornitzer Capital Management Inc. KS owned 0.21% of Sterling Infrastructure worth $11,077,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company's stock worth $103,433,000 after purchasing an additional 5,106 shares during the last quarter. Bay Rivers Group acquired a new position in shares of Sterling Infrastructure during the fourth quarter worth approximately $341,000. Allspring Global Investments Holdings LLC boosted its position in shares of Sterling Infrastructure by 7.9% in 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 during the period. Park Avenue Securities LLC bought a new position in Sterling Infrastructure during the fourth quarter worth $253,000. Finally, Spire Wealth Management raised its stake in Sterling Infrastructure by 265.1% during the 4th quarter. Spire Wealth Management now owns 8,792 shares of the construction company's stock valued at $1,481,000 after purchasing an additional 6,384 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Thursday. William Blair started coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They set an "outperform" rating on the stock.

Sterling Infrastructure Price Performance

NASDAQ:STRL traded down $7.98 on Friday, reaching $116.29. The stock had a trading volume of 666,481 shares, compared to its average volume of 508,854. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.57 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24. Sterling Infrastructure, Inc. has a 1-year low of $83.40 and a 1-year high of $206.07. The stock has a fifty day moving average price of $160.76 and a 200-day moving average price of $154.31.

Insider Activity

In other Sterling Infrastructure news, Director Dana C. O'brien sold 2,000 shares of the company's stock in a transaction on 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 in the company, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company's stock.

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.