Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Acquired by Capital Research Global Investors

Capital Research Global Investors boosted its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 78.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 574,976 shares of the construction company's stock after purchasing an additional 252,934 shares during the period. Capital Research Global Investors owned approximately 1.87% of Sterling Infrastructure worth $96,855,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bay Rivers Group acquired a new position in shares of Sterling Infrastructure in the fourth quarter worth about $341,000. Convergence Investment Partners LLC raised its holdings in Sterling Infrastructure by 47.7% in the 4th quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company's stock worth $1,566,000 after purchasing an additional 3,002 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Sterling Infrastructure by 7.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company's stock worth $111,873,000 after purchasing an additional 49,008 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Sterling Infrastructure in the fourth quarter valued at approximately $253,000. Finally, Spire Wealth Management increased its position in shares of Sterling Infrastructure by 265.1% in the fourth quarter. Spire Wealth Management now owns 8,792 shares of the construction company's stock valued at $1,481,000 after buying an additional 6,384 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Price Performance

STRL traded up $5.75 on Friday, reaching $151.75. 838,871 shares of the company's stock were exchanged, compared to its average volume of 488,587. Sterling Infrastructure, Inc. has a twelve month low of $93.50 and a twelve month high of $206.07. The stock has a market cap of $4.62 billion, a PE ratio of 25.63, a P/E/G ratio of 1.28 and a beta of 1.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The stock's fifty day moving average price is $124.33 and its 200-day moving average price is $154.24.

Analysts Set New Price Targets

Several research analysts recently weighed in on STRL shares. StockNews.com downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. DA Davidson raised Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 target price for the company in a report on Thursday, February 27th. Finally, William Blair began coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an "outperform" rating on the stock.

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.