Principal Financial Group Inc. Cuts Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Principal Financial Group Inc. reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 337,932 shares of the construction company's stock after selling 17,614 shares during the quarter. Principal Financial Group Inc. owned approximately 1.10% of Sterling Infrastructure worth $56,923,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in shares of Sterling Infrastructure by 510.7% in the third quarter. Quarry LP now owns 171 shares of the construction company's stock valued at $25,000 after purchasing an additional 143 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Sterling Infrastructure in the 3rd quarter worth $26,000. Huntington National Bank grew its position in shares of Sterling Infrastructure by 21,300.0% during the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company's stock worth $31,000 after buying an additional 213 shares in the last quarter. Signaturefd LLC increased its stake in shares of Sterling Infrastructure by 119.3% during the third quarter. Signaturefd LLC now owns 296 shares of the construction company's stock valued at $43,000 after buying an additional 161 shares during the period. Finally, Private Trust Co. NA purchased a new stake in Sterling Infrastructure in the third quarter worth about $78,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 2,000 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the transaction, the director now directly owns 25,901 shares in the company, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.70% of the company's stock.

Sterling Infrastructure Stock Performance

STRL stock traded down $7.98 during trading on Friday, reaching $116.29. The company had a trading volume of 666,481 shares, compared to its average volume of 508,854. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. Sterling Infrastructure, Inc. has a twelve month low of $83.40 and a twelve month high of $206.07. The firm has a 50-day simple moving average of $160.76 and a 200-day simple moving average of $154.31.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on STRL shares. StockNews.com upgraded Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday. William Blair began coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an "outperform" rating on the stock.

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.