Forvis Mazars Wealth Advisors LLC Reduces Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Forvis Mazars Wealth Advisors LLC lowered its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 9.0% during the fourth quarter, Holdings Channel reports. The firm owned 17,574 shares of the construction company’s stock after selling 1,744 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Sterling Infrastructure were worth $2,960,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its holdings in shares of 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 buying an additional 5,106 shares during the last quarter. Bay Rivers Group acquired a new position in Sterling Infrastructure in the 4th quarter valued at about $341,000. Allspring Global Investments Holdings LLC raised its stake in Sterling Infrastructure by 7.9% during the 4th 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. Convergence Investment Partners LLC lifted its position in Sterling Infrastructure by 47.7% during the 4th quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company’s stock worth $1,566,000 after acquiring an additional 3,002 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in shares of Sterling Infrastructure in the 4th quarter valued at approximately $253,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

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 stock was 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 in the company, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.70% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of STRL opened at $116.29 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $160.76 and its two-hundred day moving average is $155.00. Sterling Infrastructure, Inc. has a twelve month low of $83.40 and a twelve month high of $206.07. The firm has a market capitalization of $3.57 billion, a PE ratio of 19.64, a P/E/G ratio of 1.28 and a beta of 1.24.

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.