Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lessened its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 22.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 499,943 shares of the construction company’s stock after selling 147,981 shares during the period. Congress Asset Management Co.’s holdings in Sterling Infrastructure were worth $84,215,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in Sterling Infrastructure by 0.7% during the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after buying an additional 5,106 shares during the period. Bay Rivers Group acquired a new stake in Sterling Infrastructure during the fourth quarter valued at $341,000. Park Avenue Securities LLC acquired a new stake in Sterling Infrastructure during the fourth quarter valued at $253,000. Allspring Global Investments Holdings LLC grew its position 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 buying an additional 49,008 shares during the period. Finally, Spire Wealth Management grew its position 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 buying an additional 6,384 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

STRL opened at $132.40 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.53 and a beta of 1.24. Sterling Infrastructure, Inc. has a 52-week low of $81.25 and a 52-week high of $206.07. The firm’s fifty day simple moving average is $166.52 and its two-hundred day simple moving average is $154.01.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. William Blair started coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They set an “outperform” rating on the stock. StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Thursday, February 6th.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the 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 transaction, the director now directly owns 25,901 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. 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.