Convergence Investment Partners LLC Has $1.57 Million Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Convergence Investment Partners LLC increased its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 47.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,297 shares of the construction company’s stock after acquiring an additional 3,002 shares during the period. Convergence Investment Partners LLC’s holdings in Sterling Infrastructure were worth $1,566,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in STRL. Quarry LP increased its holdings in shares of Sterling Infrastructure by 510.7% during the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock valued at $25,000 after acquiring an additional 143 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Sterling Infrastructure during the 3rd quarter valued at about $26,000. Huntington National Bank grew its holdings in Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock valued at $31,000 after buying an additional 213 shares during the last quarter. Signaturefd LLC grew its holdings in Sterling Infrastructure by 119.3% in the 3rd quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock valued at $43,000 after buying an additional 161 shares during the last quarter. Finally, Private Trust Co. NA acquired a new stake in Sterling Infrastructure in the 3rd quarter valued at approximately $78,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insider Transactions at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction that occurred on Wednesday, December 18th. The stock was 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 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 the SEC website. 3.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on STRL. StockNews.com lowered Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. William Blair began coverage on Sterling Infrastructure in a report on Friday, January 17th. They issued an “outperform” rating on the stock.

Sterling Infrastructure Stock Performance

STRL opened at $130.63 on Wednesday. Sterling Infrastructure, Inc. has a 12-month low of $81.25 and a 12-month high of $206.07. The firm has a market capitalization of $4.01 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24. The stock’s 50 day moving average price is $165.50 and its two-hundred day moving average price is $154.43. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

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.