Sterling Infrastructure, Inc. (NASDAQ:STRL) Stake Lowered by Jag Capital Management LLC

Jag Capital Management LLC reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 11.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,762 shares of the construction company’s stock after selling 237 shares during the period. Jag Capital Management LLC’s holdings in Sterling Infrastructure were worth $297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STRL. Principal Financial Group Inc. grew its holdings in shares of Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after acquiring an additional 325,620 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Sterling Infrastructure during the 4th quarter valued at $47,712,000. WCM Investment Management LLC purchased a new position in shares of Sterling Infrastructure during the 4th quarter valued at $18,019,000. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 acquiring an additional 49,008 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Sterling Infrastructure by 58.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company’s stock valued at $18,682,000 after acquiring an additional 47,734 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. William Blair assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They issued an “outperform” rating for the company. DA Davidson upgraded shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Thursday, February 20th.

Sterling Infrastructure Trading Down 4.4 %

Shares of NASDAQ:STRL opened at $121.57 on Tuesday. The stock has a market capitalization of $3.72 billion, a PE ratio of 20.54, a P/E/G ratio of 1.28 and a beta of 1.24. Sterling Infrastructure, Inc. has a 1 year low of $93.50 and a 1 year high of $206.07. The firm has a fifty day moving average price of $154.16 and a 200 day moving average price of $155.47. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the transaction, the director now owns 25,901 shares of the company’s stock, valued at $4,555,726.89. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

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.