Advisors Asset Management Inc. Lowers Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Advisors Asset Management Inc. reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 20.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 40,730 shares of the construction company’s stock after selling 10,204 shares during the quarter. Advisors Asset Management Inc.’s holdings in Sterling Infrastructure were worth $6,861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STRL. Quarry LP boosted its holdings in shares of Sterling Infrastructure by 510.7% in the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Huntington National Bank lifted its position in Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after buying an additional 213 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Sterling Infrastructure in the fourth quarter worth approximately $39,000. Arcadia Investment Management Corp MI bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $71,000. Finally, Private Trust Co. NA purchased a new position in shares of Sterling Infrastructure during the third quarter worth approximately $78,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STRL has been the topic of several recent research reports. DA Davidson raised shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Thursday, February 27th. William Blair started coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating on the stock. Finally, StockNews.com raised Sterling Infrastructure from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

Sterling Infrastructure Stock Down 2.0 %

Shares of Sterling Infrastructure stock opened at $118.04 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. The company’s 50 day moving average price is $142.42 and its 200-day moving average price is $155.73. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.28 and a beta of 1.32.

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.