Franklin Resources Inc. Decreases Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Franklin Resources Inc. cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 44.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,427 shares of the construction company's stock after selling 22,309 shares during the quarter. Franklin Resources Inc. owned approximately 0.09% of Sterling Infrastructure worth $4,789,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Sterling Infrastructure in the 4th quarter valued at $2,789,000. Alliancebernstein L.P. increased its holdings in Sterling Infrastructure by 38.3% in the fourth quarter. Alliancebernstein L.P. now owns 44,470 shares of the construction company's stock valued at $7,491,000 after buying an additional 12,320 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Sterling Infrastructure by 126.9% in the fourth quarter. Meeder Asset Management Inc. now owns 7,752 shares of the construction company's stock worth $1,306,000 after acquiring an additional 4,335 shares during the period. Axiom Investors LLC DE purchased a new stake in shares of Sterling Infrastructure during the 4th quarter worth about $20,373,000. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Sterling Infrastructure by 11.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,069 shares of the construction company's stock valued at $685,000 after acquiring an additional 408 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

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Sterling Infrastructure Price Performance

NASDAQ:STRL traded up $6.47 during trading hours on Tuesday, hitting $141.70. 1,011,146 shares of the stock were exchanged, compared to its average volume of 443,533. The firm's fifty day moving average price is $124.64 and its 200 day moving average price is $154.73. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. The company has a market cap of $4.31 billion, a P/E ratio of 23.94, a P/E/G ratio of 1.28 and a beta of 1.19. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

Analyst Ratings Changes

STRL has been the topic of a number of recent analyst reports. William Blair assumed coverage on Sterling Infrastructure in a research report on Friday, January 17th. They set an "outperform" rating on the stock. StockNews.com lowered Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Finally, DA Davidson raised shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price target for the company in a report on Thursday, February 27th.

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.