Sawgrass Asset Management LLC Decreases Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Sawgrass Asset Management LLC cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 34.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,308 shares of the construction company’s stock after selling 679 shares during the period. Sawgrass Asset Management LLC’s holdings in Sterling Infrastructure were worth $220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STRL. Principal Financial Group Inc. boosted its holdings in Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after purchasing an additional 325,620 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Sterling Infrastructure in the fourth quarter valued at $47,712,000. International Assets Investment Management LLC boosted its holdings in Sterling Infrastructure by 14,112.0% in the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock valued at $20,610,000 after purchasing an additional 141,120 shares during the period. WCM Investment Management LLC purchased a new position in Sterling Infrastructure in the fourth quarter valued at $18,019,000. Finally, Congress Asset Management Co. boosted its holdings in Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after purchasing an additional 104,096 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the sale, the director now directly owns 25,901 shares in the company, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by insiders.

Sterling Infrastructure Stock Down 7.3 %

Sterling Infrastructure stock opened at $130.10 on Friday. Sterling Infrastructure, Inc. has a 1-year low of $80.91 and a 1-year 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. The stock has a market cap of $4.00 billion, a PE ratio of 21.98, a P/E/G ratio of 1.53 and a beta of 1.24. The stock’s fifty day moving average is $169.08 and its two-hundred day moving average is $153.74.

Analyst Upgrades and Downgrades

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

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.