Naviter Wealth LLC Acquires New Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Naviter Wealth LLC acquired a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,135 shares of the construction company’s stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after purchasing an additional 5,106 shares during the last quarter. Bay Rivers Group purchased a new stake in Sterling Infrastructure during the 4th quarter valued at $341,000. Allspring Global Investments Holdings LLC boosted its stake in 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 purchasing an additional 49,008 shares during the last quarter. Convergence Investment Partners LLC boosted its stake in Sterling Infrastructure by 47.7% during the 4th quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company’s stock valued at $1,566,000 after purchasing an additional 3,002 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Sterling Infrastructure during the 4th quarter valued at $253,000. Institutional investors own 80.95% of the company’s stock.

Insider Transactions at Sterling Infrastructure

In related news, Director Dana C. O’brien sold 2,000 shares of the firm’s 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 transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on STRL shares. William Blair started coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating on the stock. StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Thursday, February 27th.

Sterling Infrastructure Stock Performance

STRL stock opened at $118.00 on Friday. The company has a market cap of $3.61 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. Sterling Infrastructure, Inc. has a 1 year low of $93.50 and a 1 year 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 stock’s fifty day moving average price is $149.96 and its 200-day moving average price is $155.45.

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.