Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Covestor Ltd

Covestor Ltd trimmed its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,365 shares of the construction company’s stock after selling 149 shares during the quarter. Covestor Ltd’s holdings in Sterling Infrastructure were worth $230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Sterling Infrastructure by 30.0% in the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock valued at $425,135,000 after acquiring an additional 581,847 shares during the last quarter. Invesco Ltd. raised its stake in Sterling Infrastructure by 22.5% during the fourth quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock worth $127,563,000 after acquiring an additional 139,081 shares during the period. Geode Capital Management LLC lifted its holdings in Sterling Infrastructure by 0.5% in the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock worth $104,431,000 after acquiring an additional 3,918 shares during the last quarter. State Street Corp boosted its stake in Sterling Infrastructure by 0.7% in 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 period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of 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 purchasing an additional 49,008 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STRL has been the topic of a number of recent research reports. StockNews.com cut Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Wednesday. William Blair began coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating for the company. Finally, DA Davidson upgraded shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Thursday, February 27th.

Sterling Infrastructure Stock Performance

Shares of STRL traded down $2.07 during trading hours on Thursday, reaching $132.46. 144,214 shares of the company’s stock traded hands, compared to its average volume of 434,442. Sterling Infrastructure, Inc. has a twelve month low of $93.50 and a twelve month high of $206.07. The business’s fifty day simple moving average is $124.93 and its two-hundred day simple moving average is $154.88. 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 firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 1.28 and a beta of 1.19.

About Sterling Infrastructure

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.