Lord Abbett & CO. LLC Has $51.31 Million Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Lord Abbett & CO. LLC trimmed its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,600 shares of the construction company's stock after selling 58,022 shares during the quarter. Lord Abbett & CO. LLC owned about 0.99% of Sterling Infrastructure worth $51,310,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Sterling Infrastructure during the fourth quarter valued at $39,000. Huntington National Bank increased its stake in Sterling Infrastructure by 34.6% during the 4th quarter. Huntington National Bank now owns 288 shares of the construction company's stock valued at $49,000 after buying an additional 74 shares during the period. National Bank of Canada FI bought a new stake in shares of Sterling Infrastructure during the 4th quarter worth about $56,000. Arcadia Investment Management Corp MI bought a new stake in shares of Sterling Infrastructure during the 4th quarter worth about $71,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Sterling Infrastructure by 1,369.0% in the fourth 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 in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sterling Infrastructure Price Performance

Sterling Infrastructure stock traded down $0.28 during mid-day trading on Tuesday, hitting $149.28. The company's stock had a trading volume of 416,300 shares, compared to its average volume of 491,305. The stock has a market capitalization of $4.54 billion, a P/E ratio of 25.22, a P/E/G ratio of 1.28 and a beta of 1.19. Sterling Infrastructure, Inc. has a twelve month low of $93.50 and a twelve month high of $206.07. The stock's fifty day moving average price is $125.21 and its two-hundred day moving average price is $154.19. 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.