Sterling Infrastructure, Inc. (NASDAQ:STRL) Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 99.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,322 shares of the construction company's stock after selling 660,587 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Sterling Infrastructure were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of Sterling Infrastructure by 355.8% in the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock valued at $27,000 after purchasing an additional 185 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Sterling Infrastructure in the first quarter valued at $28,000. SBI Securities Co. Ltd. bought a new position in Sterling Infrastructure during the 4th quarter valued at $39,000. Huntington National Bank grew its holdings in Sterling Infrastructure by 34.6% during the 4th quarter. Huntington National Bank now owns 288 shares of the construction company's stock worth $49,000 after acquiring an additional 74 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Sterling Infrastructure in the 4th quarter worth about $56,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. DA Davidson increased their price target on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Insider Buying and Selling

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the transaction, the general counsel owned 29,315 shares in the company, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the sale, the director directly owned 16,498 shares in the company, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Sterling Infrastructure Stock Performance

NASDAQ STRL traded up $5.47 during trading hours on Friday, hitting $241.76. The company had a trading volume of 335,486 shares, compared to its average volume of 526,658. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.34. The firm has a market cap of $7.35 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 1.95 and a beta of 1.40. Sterling Infrastructure, Inc. has a fifty-two week low of $93.50 and a fifty-two week high of $242.23. The business has a fifty day simple moving average of $204.46 and a 200-day simple moving average of $163.32.

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.