Raymond James Financial Inc. Buys Shares of 99,208 Sterling Infrastructure, Inc. (NASDAQ:STRL)

Raymond James Financial Inc. bought a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 99,208 shares of the construction company's stock, valued at approximately $16,712,000. Raymond James Financial Inc. owned approximately 0.32% of Sterling Infrastructure as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in STRL. Geode Capital Management LLC grew its stake in Sterling Infrastructure by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company's stock worth $104,431,000 after buying an additional 3,918 shares during the last quarter. State Street Corp grew its position in shares of Sterling Infrastructure by 0.7% during the third quarter. State Street Corp now owns 713,234 shares of the construction company's stock worth $103,433,000 after acquiring an additional 5,106 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Sterling Infrastructure by 7.9% in the 4th 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. Loomis Sayles & Co. L P raised its position in Sterling Infrastructure by 4.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company's stock valued at $55,248,000 after purchasing an additional 17,863 shares during the last quarter. Finally, GW&K Investment Management LLC grew its position in Sterling Infrastructure by 3.4% during the 4th quarter. GW&K Investment Management LLC now owns 363,251 shares of the construction company's stock worth $61,190,000 after purchasing an additional 12,064 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STRL. StockNews.com upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. DA Davidson upgraded Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 target price on the stock in a research note on Thursday, February 27th. Finally, William Blair began coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an "outperform" rating for the company.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL traded up $0.70 during midday trading on Friday, hitting $126.63. The stock had a trading volume of 837,737 shares, compared to its average volume of 394,165. Sterling Infrastructure, Inc. has a 1 year low of $93.50 and a 1 year high of $206.07. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average price of $140.79 and a two-hundred day moving average price of $155.32. The company has a market capitalization of $3.88 billion, a PE ratio of 21.39, a P/E/G ratio of 1.28 and a beta of 1.32.

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.