Sterling Infrastructure, Inc. (NASDAQ:STRL) Holdings Raised by Convergence Investment Partners LLC

Convergence Investment Partners LLC grew its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 47.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,297 shares of the construction company’s stock after purchasing an additional 3,002 shares during the period. Convergence Investment Partners LLC’s holdings in Sterling Infrastructure were worth $1,566,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Creative Planning lifted its stake in Sterling Infrastructure by 53.5% in the 3rd quarter. Creative Planning now owns 4,687 shares of the construction company’s stock worth $680,000 after acquiring an additional 1,634 shares in the last quarter. Blue Trust Inc. lifted its stake in Sterling Infrastructure by 16.6% in the 3rd quarter. Blue Trust Inc. now owns 1,246 shares of the construction company’s stock worth $181,000 after acquiring an additional 177 shares in the last quarter. Signaturefd LLC lifted its stake in Sterling Infrastructure by 119.3% in the 3rd quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock worth $43,000 after acquiring an additional 161 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Sterling Infrastructure by 14,112.0% in the 3rd quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock worth $20,610,000 after acquiring an additional 141,120 shares in the last quarter. Finally, CWC Advisors LLC. purchased a new stake in Sterling Infrastructure in the 3rd quarter worth about $412,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Down 1.3 %

STRL opened at $130.63 on Wednesday. Sterling Infrastructure, Inc. has a fifty-two week low of $81.25 and a fifty-two week high of $206.07. The business has a 50-day moving average of $165.50 and a 200-day moving average of $154.43. 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 company has a market capitalization of $4.01 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24.

Analysts Set New Price Targets

Several brokerages recently issued reports on STRL. StockNews.com downgraded Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. William Blair assumed coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating for the company.

Insider Transactions at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

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.