Victory Capital Management Inc. Cuts Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Victory Capital Management Inc. trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 21.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 46,786 shares of the construction company's stock after selling 13,075 shares during the quarter. Victory Capital Management Inc. owned about 0.15% of Sterling Infrastructure worth $7,881,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock valued at $51,561,000 after acquiring an additional 325,620 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Sterling Infrastructure during the 4th quarter valued at about $47,712,000. WCM Investment Management LLC purchased a new stake in shares of Sterling Infrastructure during the 4th quarter valued at about $18,019,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Sterling Infrastructure by 7.9% during 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 last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Sterling Infrastructure by 58.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company's stock valued at $18,682,000 after acquiring an additional 47,734 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dana C. O'brien sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the sale, the director now owns 25,901 shares in the company, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. William Blair assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They set an "outperform" rating on the stock. StockNews.com upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Finally, DA Davidson upgraded shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price objective on the stock in a research note on Thursday, February 27th.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL traded down $2.45 during trading on Tuesday, hitting $118.04. The company's stock had a trading volume of 299,851 shares, compared to its average volume of 390,433. The company has a 50-day moving average of $143.41 and a 200-day moving average of $155.74. Sterling Infrastructure, Inc. has a 12 month low of $93.50 and a 12 month high of $206.07. 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 firm has a market cap of $3.61 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.28 and a beta of 1.32.

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.