Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. lifted its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 134.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,649 shares of the construction company's stock after buying an additional 42,207 shares during the quarter. Prudential Financial Inc. owned approximately 0.24% of Sterling Infrastructure worth $12,406,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Kovack Advisors Inc. grew its holdings in Sterling Infrastructure by 3.2% during the 4th quarter. Kovack Advisors Inc. now owns 2,914 shares of the construction company's stock worth $491,000 after acquiring an additional 91 shares in the last quarter. Willis Investment Counsel increased its holdings in Sterling Infrastructure by 1.4% in the fourth quarter. Willis Investment Counsel now owns 7,535 shares of the construction company's stock valued at $1,269,000 after buying an additional 101 shares during the last quarter. Xponance Inc. raised its stake in Sterling Infrastructure by 6.5% in the fourth quarter. Xponance Inc. now owns 2,144 shares of the construction company's stock valued at $361,000 after buying an additional 131 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Sterling Infrastructure by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,980 shares of the construction company's stock worth $334,000 after buying an additional 137 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Sterling Infrastructure by 510.7% during the 3rd quarter. Quarry LP now owns 171 shares of the construction company's stock worth $25,000 after acquiring an additional 143 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock traded up $2.72 on Wednesday, hitting $118.36. The stock had a trading volume of 207,199 shares, compared to its average volume of 409,816. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.28 and a beta of 1.32. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. The company's 50 day moving average price is $132.09 and its 200 day moving average price is $156.35.

Analyst Upgrades and Downgrades

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

About Sterling Infrastructure

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.