Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 28.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,980 shares of the construction company's stock after purchasing an additional 9,273 shares during the period. Wells Fargo & Company MN owned about 0.14% of Sterling Infrastructure worth $7,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Sterling Infrastructure during the fourth quarter valued at approximately $39,000. Huntington National Bank increased its holdings in shares of Sterling Infrastructure by 34.6% in the 4th quarter. Huntington National Bank now owns 288 shares of the construction company's stock valued at $49,000 after acquiring an additional 74 shares during the period. National Bank of Canada FI bought a new position in shares of Sterling Infrastructure in the 4th quarter worth $56,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Sterling Infrastructure during the 4th quarter worth $71,000. Finally, Venturi Wealth Management LLC boosted its position in Sterling Infrastructure by 1,369.0% during the fourth quarter. Venturi Wealth Management LLC now owns 617 shares of the construction company's stock valued at $104,000 after purchasing an additional 575 shares in the last quarter. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock traded up $1.12 during mid-day trading on Thursday, hitting $141.20. The company had a trading volume of 135,490 shares, compared to its average volume of 788,858. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.28 and a beta of 1.19. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month high of $206.07. The company's fifty day moving average is $124.06 and its 200-day moving average is $154.26. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. William Blair assumed coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They issued an "outperform" rating on the stock. StockNews.com lowered Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Finally, DA Davidson raised Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price objective for the company in a research 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.