Bank of America Corp DE Sells 31,599 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Bank of America Corp DE decreased its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,569 shares of the construction company's stock after selling 31,599 shares during the quarter. Bank of America Corp DE owned approximately 0.35% of Sterling Infrastructure worth $18,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STRL. Vanguard Group Inc. increased its stake in shares of Sterling Infrastructure by 30.0% in the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock valued at $425,135,000 after purchasing an additional 581,847 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Sterling Infrastructure during the fourth quarter worth approximately $47,712,000. Capital Research Global Investors boosted its holdings in Sterling Infrastructure by 78.5% during the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock worth $96,855,000 after buying an additional 252,934 shares in the last quarter. First Trust Advisors LP boosted its holdings in Sterling Infrastructure by 74.1% during the fourth quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock worth $60,025,000 after buying an additional 151,642 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Sterling Infrastructure by 22.5% in the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock worth $127,563,000 after purchasing an additional 139,081 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

Analyst Upgrades and Downgrades

STRL has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday. DA Davidson upgraded shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price target on the stock in a report on Thursday, February 27th.

Sterling Infrastructure Stock Performance

STRL traded up $2.11 during trading on Monday, hitting $184.40. The stock had a trading volume of 330,518 shares, compared to its average volume of 500,300. The firm has a market cap of $5.61 billion, a PE ratio of 31.15, a P/E/G ratio of 1.28 and a beta of 1.27. Sterling Infrastructure, Inc. has a 12 month low of $93.50 and a 12 month high of $206.07. 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 company has a 50 day simple moving average of $148.03 and a 200-day simple moving average of $156.44.

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.