Loomis Sayles & Co. L P Reduces Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Loomis Sayles & Co. L P lowered its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 370,185 shares of the construction company's stock after selling 10,787 shares during the quarter. Loomis Sayles & Co. L P owned about 1.21% of Sterling Infrastructure worth $62,357,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Sterling Infrastructure by 31.3% in the 4th quarter. JPMorgan Chase & Co. now owns 170,709 shares of the construction company's stock valued at $28,756,000 after purchasing an additional 40,661 shares in the last quarter. EFG Asset Management North America Corp. boosted its stake in shares of Sterling Infrastructure by 58.6% in the fourth quarter. EFG Asset Management North America Corp. now owns 37,015 shares of the construction company's stock valued at $6,236,000 after buying an additional 13,682 shares in the last quarter. EntryPoint Capital LLC grew its holdings in Sterling Infrastructure by 8.0% during the fourth quarter. EntryPoint Capital LLC now owns 3,432 shares of the construction company's stock worth $578,000 after acquiring an additional 255 shares during the period. Prudential Financial Inc. raised its position in Sterling Infrastructure by 134.2% in the fourth quarter. Prudential Financial Inc. now owns 73,649 shares of the construction company's stock worth $12,406,000 after acquiring an additional 42,207 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new stake in Sterling Infrastructure in the fourth quarter valued at $1,981,000. Institutional investors and hedge funds own 80.95% of the company's stock.

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Analysts Set New Price Targets

STRL has been the subject of a number of research analyst reports. 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. William Blair started coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They issued an "outperform" rating for the company. Finally, StockNews.com lowered Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Monday, March 24th.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock traded down $4.63 on Monday, hitting $111.52. The company's stock had a trading volume of 256,577 shares, compared to its average volume of 406,550. The company has a market capitalization of $3.41 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. The firm has a fifty day moving average price of $135.10 and a 200-day moving average price of $156.50. 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 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.