Allspring Global Investments Holdings LLC Raises Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Allspring Global Investments Holdings LLC raised its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 7.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 666,909 shares of the construction company’s stock after purchasing an additional 49,008 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sterling Infrastructure were worth $111,873,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Sterling Infrastructure by 1,088.1% in the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after acquiring an additional 325,620 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Sterling Infrastructure by 14,112.0% during the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock valued at $20,610,000 after purchasing an additional 141,120 shares in the last quarter. WCM Investment Management LLC purchased a new position in shares of Sterling Infrastructure during the fourth quarter valued at approximately $18,019,000. Congress Asset Management Co. boosted its position in shares of Sterling Infrastructure by 19.1% in the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after purchasing an additional 104,096 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Sterling Infrastructure by 58.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company’s stock worth $18,682,000 after buying an additional 47,734 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Down 3.1 %

Shares of NASDAQ STRL opened at $140.40 on Thursday. The firm’s 50 day moving average price is $169.08 and its 200-day moving average price is $153.74. Sterling Infrastructure, Inc. has a 52-week low of $76.01 and a 52-week high of $206.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $4.31 billion, a PE ratio of 23.72, a P/E/G ratio of 1.53 and a beta of 1.24.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

STRL has been the subject of a number of recent research reports. StockNews.com cut Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. William Blair initiated coverage on Sterling Infrastructure in a research report on Friday, January 17th. They issued an “outperform” rating for the company.

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.