American Century Companies Inc. Sells 72,193 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• American Century Companies Inc. reduced its stake in Sterling Infrastructure by 24.8%, holding 219,265 shares worth approximately $24.8 million after selling 72,193 shares in the first quarter.
• Several large investors have increased their positions in Sterling Infrastructure, with Sunbelt Securities Inc. raising its stake by 689.7% during the same quarter.
• Sterling Infrastructure's stock has recently been upgraded to a "strong-buy" by analysts, with a new price target set at $355.00.

American Century Companies Inc. lessened its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 24.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,265 shares of the construction company's stock after selling 72,193 shares during the quarter. American Century Companies Inc. owned 0.72% of Sterling Infrastructure worth $24,823,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Assetmark Inc. boosted its position in shares of Sterling Infrastructure by 5.4% during the first quarter. Assetmark Inc. now owns 1,372 shares of the construction company's stock valued at $155,000 after buying an additional 70 shares during the last quarter. Peterson Wealth Services raised its stake in shares of Sterling Infrastructure by 2.1% in the first quarter. Peterson Wealth Services now owns 5,054 shares of the construction company's stock valued at $572,000 after buying an additional 103 shares during the period. D.A. Davidson & CO. raised its stake in shares of Sterling Infrastructure by 5.0% in the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock valued at $274,000 after buying an additional 116 shares during the period. JT Stratford LLC raised its stake in shares of Sterling Infrastructure by 1.0% in the fourth quarter. JT Stratford LLC now owns 12,465 shares of the construction company's stock valued at $2,100,000 after buying an additional 121 shares during the period. Finally, Xponance Inc. raised its stake in shares of Sterling Infrastructure by 6.0% during the 1st quarter. Xponance Inc. now owns 2,272 shares of the construction company's stock valued at $257,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insider Transactions at Sterling Infrastructure

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Friday. DA Davidson boosted their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Sterling Infrastructure has a consensus rating of "Buy" and an average price target of $355.00.

Sterling Infrastructure Trading Up 2.5%

NASDAQ:STRL traded up $6.91 during trading hours on Monday, hitting $286.49. The company had a trading volume of 301,181 shares, compared to its average volume of 572,902. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a 50-day moving average price of $255.23 and a 200 day moving average price of $186.03. The company has a market capitalization of $8.72 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.13 and a beta of 1.46. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $321.79.

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.