Congress Asset Management Co. Lowers Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Congress Asset Management Co. lessened its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 22.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 499,943 shares of the construction company’s stock after selling 147,981 shares during the period. Congress Asset Management Co. owned about 1.63% of Sterling Infrastructure worth $84,215,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Sterling Infrastructure by 0.5% during the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after acquiring an additional 3,918 shares during the last quarter. State Street Corp lifted 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 acquiring an additional 5,106 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 acquiring an additional 49,008 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in Sterling Infrastructure by 4.9% during the third quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company’s stock valued at $55,248,000 after acquiring an additional 17,863 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Sterling Infrastructure by 1,088.1% during the third 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 during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. William Blair assumed coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They set an “outperform” rating for the company. StockNews.com cut shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th.

Insiders Place Their Bets

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 shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the transaction, the director now owns 25,901 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Sterling Infrastructure Trading Up 1.8 %

NASDAQ STRL opened at $132.40 on Friday. The company has a fifty day simple moving average of $166.52 and a two-hundred day simple moving average of $154.01. The stock has a market cap of $4.07 billion, a P/E ratio of 22.36, a P/E/G ratio of 1.53 and a beta of 1.24. Sterling Infrastructure, Inc. has a 12-month low of $81.25 and a 12-month high of $206.07. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

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.