Point72 Asset Management L.P. Sells 94,834 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Point72 Asset Management L.P. cut its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 76.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,695 shares of the construction company’s stock after selling 94,834 shares during the period. Point72 Asset Management L.P.’s holdings in Sterling Infrastructure were worth $5,002,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bay Rivers Group bought a new position in Sterling Infrastructure in the fourth quarter worth approximately $341,000. Convergence Investment Partners LLC lifted its holdings in Sterling Infrastructure by 47.7% during the fourth 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Sterling Infrastructure by 7.9% during the fourth 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 in the last quarter. Park Avenue Securities LLC purchased a new position in Sterling Infrastructure during the fourth quarter valued at approximately $253,000. Finally, Spire Wealth Management lifted its holdings in Sterling Infrastructure by 265.1% during the fourth quarter. Spire Wealth Management now owns 8,792 shares of the construction company’s stock valued at $1,481,000 after purchasing an additional 6,384 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STRL has been the topic of several analyst reports. DA Davidson raised shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Thursday, February 27th. StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $185.98 on Tuesday. The company has a market capitalization of $5.66 billion, a P/E ratio of 31.42, a P/E/G ratio of 1.28 and a beta of 1.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $206.07. The firm’s 50 day simple moving average is $141.71 and its two-hundred day simple moving average is $155.96.

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.