Algert Global LLC Sells 5,548 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Algert Global LLC reduced its holdings in Sterling Infrastructure, Inc. by 12%, selling 5,548 shares and retaining approximately 0.13% of the company, valued at $4.6 million.
• Institutional investors hold about 80.95% of Sterling Infrastructure's stock, with significant purchases from firms such as Bank of Montreal Can and Raymond James Financial Inc. during the fourth quarter.
• Sterling Infrastructure shares opened at $283.20 with a market cap of $8.61 billion, while analysts have recently upgraded their price target, with DA Davidson increasing it from $265 to $355.

Algert Global LLC cut its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 12.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,712 shares of the construction company's stock after selling 5,548 shares during the quarter. Algert Global LLC owned approximately 0.13% of Sterling Infrastructure worth $4,609,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $221,000. Raymond James Financial Inc. bought a new position in shares of Sterling Infrastructure during the 4th quarter valued at $16,712,000. Barclays PLC raised its position in Sterling Infrastructure by 9.1% in the 4th quarter. Barclays PLC now owns 62,123 shares of the construction company's stock worth $10,465,000 after purchasing an additional 5,178 shares during the period. Mariner LLC lifted its stake in Sterling Infrastructure by 127.8% in the fourth quarter. Mariner LLC now owns 3,905 shares of the construction company's stock worth $658,000 after purchasing an additional 2,191 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Sterling Infrastructure by 893.1% in the fourth quarter. NewEdge Advisors LLC now owns 3,585 shares of the construction company's stock worth $604,000 after purchasing an additional 3,224 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Trading Up 2.9%

NASDAQ:STRL opened at $283.20 on Tuesday. The firm has a market capitalization of $8.61 billion, a P/E ratio of 30.78, a P/E/G ratio of 2.09 and a beta of 1.46. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $247.73 and a 200 day moving average of $181.29. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $321.79.

Analyst Upgrades and Downgrades

STRL has been the topic of several analyst reports. DA Davidson lifted their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

Insider Transactions at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 10,154 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the completion of the transaction, the director directly owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the sale, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

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.

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