Essex Investment Management Co. LLC Has $6.35 Million Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Essex Investment Management Co. LLC decreased its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,683 shares of the construction company’s stock after selling 7,292 shares during the period. Sterling Infrastructure accounts for about 1.1% of Essex Investment Management Co. LLC’s holdings, making the stock its 16th biggest holding. Essex Investment Management Co. LLC’s holdings in Sterling Infrastructure were worth $6,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Naviter Wealth LLC acquired a new stake in shares of Sterling Infrastructure in the fourth quarter valued at about $360,000. PNC Financial Services Group Inc. grew its stake in Sterling Infrastructure by 7.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,980 shares of the construction company’s stock worth $334,000 after purchasing an additional 137 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Sterling Infrastructure during the fourth quarter worth approximately $214,000. Lisanti Capital Growth LLC grew its stake in Sterling Infrastructure by 401.0% during the fourth quarter. Lisanti Capital Growth LLC now owns 21,015 shares of the construction company’s stock worth $3,540,000 after purchasing an additional 16,820 shares during the period. Finally, Inceptionr LLC acquired a new stake in Sterling Infrastructure during the fourth quarter worth approximately $230,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on STRL shares. William Blair started coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating for the company. DA Davidson raised Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Thursday, February 27th. Finally, StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Thursday.

Insider Activity

In other news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 25,901 shares in the company, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Down 2.3 %

STRL stock opened at $118.00 on Friday. Sterling Infrastructure, Inc. has a twelve month low of $93.50 and a twelve month high of $206.07. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $149.96 and its 200-day moving average is $155.45. The firm has a market capitalization of $3.61 billion, a PE ratio of 19.93, a P/E/G ratio of 1.28 and a beta of 1.32.

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.