Naviter Wealth LLC Takes $360,000 Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Naviter Wealth LLC bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,135 shares of the construction company's stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in STRL. Principal Financial Group Inc. raised its stake in shares of Sterling Infrastructure by 1,088.1% in the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock valued at $51,561,000 after acquiring an additional 325,620 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Sterling Infrastructure in the fourth quarter valued at approximately $47,712,000. WCM Investment Management LLC acquired a new stake in shares of Sterling Infrastructure in the fourth quarter worth $18,019,000. Raymond James Financial Inc. acquired a new stake in shares of Sterling Infrastructure in the fourth quarter worth $16,712,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Sterling Infrastructure by 7.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company's stock worth $111,873,000 after buying an additional 49,008 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock traded up $0.70 during mid-day trading on Wednesday, reaching $116.44. The company had a trading volume of 621,427 shares, compared to its average volume of 646,986. 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 firm has a market cap of $3.56 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.28 and a beta of 1.32. The company has a 50 day moving average of $147.72 and a 200-day moving average of $155.70. Sterling Infrastructure, Inc. has a 52 week low of $93.50 and a 52 week high of $206.07.

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Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 2,000 shares of Sterling Infrastructure stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the sale, the director now owns 25,901 shares of the company's stock, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. DA Davidson raised shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 target price for the company in a research report on Thursday, February 27th. StockNews.com raised Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Finally, William Blair initiated coverage on Sterling Infrastructure in a report on Friday, January 17th. They issued an "outperform" rating on the stock.

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.