Great Lakes Advisors LLC Sells 6,433 Shares of Sterling Infrastructure, Inc. $STRL

Great Lakes Advisors LLC reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 19.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,282 shares of the construction company’s stock after selling 6,433 shares during the period. Great Lakes Advisors LLC owned approximately 0.09% of Sterling Infrastructure worth $2,975,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sunbelt Securities Inc. increased its position in shares of Sterling Infrastructure by 689.7% during the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc lifted its position in Sterling Infrastructure by 355.8% in the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company’s stock valued at $27,000 after acquiring an additional 185 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Sterling Infrastructure in the 1st quarter worth $28,000. Quarry LP increased its holdings in Sterling Infrastructure by 107.7% during the 1st quarter. Quarry LP now owns 376 shares of the construction company’s stock worth $43,000 after purchasing an additional 195 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Sterling Infrastructure by 111.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company’s stock valued at $55,000 after purchasing an additional 257 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 30th. Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Finally, DA Davidson upped their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $355.00.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $301.13 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50-day moving average of $269.72 and a 200-day moving average of $197.96. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 2.12 and a beta of 1.35. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $321.79.

Insider Buying and Selling

In other news, Director Dana C. O’brien sold 10,154 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the sale, the director owned 16,498 shares of the company’s stock, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the completion of the transaction, the general counsel directly owned 29,315 shares of the company’s stock, valued at $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

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.