C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $47.71 Million in Sterling Infrastructure, Inc. (NASDAQ:STRL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 283,241 shares of the construction company’s stock, valued at approximately $47,712,000. Sterling Infrastructure makes up about 2.2% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings, making the stock its 10th biggest holding. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned about 0.92% of Sterling Infrastructure as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of STRL. Van ECK Associates Corp grew its position in Sterling Infrastructure by 36.7% in the fourth quarter. Van ECK Associates Corp now owns 26,512 shares of the construction company’s stock valued at $4,466,000 after acquiring an additional 7,111 shares in the last quarter. Legato Capital Management LLC boosted its stake in shares of Sterling Infrastructure by 4.0% in the fourth quarter. Legato Capital Management LLC now owns 23,707 shares of the construction company’s stock valued at $3,993,000 after purchasing an additional 922 shares during the period. Allspring Global Investments Holdings LLC grew its holdings 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 in the last quarter. Peterson Wealth Services purchased a new stake in Sterling Infrastructure during the 4th quarter worth $834,000. Finally, Kestra Private Wealth Services LLC acquired a new position in Sterling Infrastructure in the 4th quarter worth $614,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Trading Down 3.1 %

NASDAQ STRL opened at $140.40 on Thursday. The company’s fifty day moving average price is $169.08 and its two-hundred day moving average price is $153.74. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. Sterling Infrastructure, Inc. has a 12 month low of $76.01 and a 12 month 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.

Analysts Set New Price Targets

Several analysts have recently weighed in on STRL shares. William Blair initiated coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating for the company. StockNews.com lowered Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the 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 transaction, the director now owns 25,901 shares of the company’s stock, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

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.