Sterling Infrastructure, Inc. (NASDAQ:STRL) Position Trimmed by Legal & General Group Plc

Legal & General Group Plc lessened its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,294 shares of the construction company's stock after selling 3,477 shares during the quarter. Legal & General Group Plc owned about 0.12% of Sterling Infrastructure worth $6,114,000 at the end of the most recent reporting period.

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

Sterling Infrastructure Trading Up 3.0 %

NASDAQ STRL traded up $4.34 on Friday, hitting $150.34. 185,839 shares of the stock were exchanged, compared to its average volume of 486,064. The company's 50-day moving average price is $124.33 and its two-hundred day moving average price is $154.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 1.28 and a beta of 1.19.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STRL. 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 report on Thursday, February 27th. William Blair assumed coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an "outperform" rating on the stock. Finally, StockNews.com lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th.

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.