Charles Schwab Investment Management Inc. Cuts Holdings in Sterling Infrastructure, Inc. $STRL

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Sterling Infrastructure, Inc. by 2.6%, selling 8,441 shares but still owning 322,133 shares worth approximately $36.5 million.
• Other institutional investors have significantly increased their stakes in Sterling Infrastructure, with notable increases such as Sunbelt Securities Inc. raising holdings by 689.7% in the first quarter.
• Wall Street analysts are optimistic about Sterling Infrastructure, with target price increases from DA Davidson raising it from $265 to $355 and a "buy" rating issued by Wall Street Zen.

Charles Schwab Investment Management Inc. trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 322,133 shares of the construction company's stock after selling 8,441 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.06% of Sterling Infrastructure worth $36,469,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Sterling Infrastructure by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock valued at $303,742,000 after buying an additional 159,191 shares during the last quarter. Capital Research Global Investors boosted its holdings in Sterling Infrastructure by 78.5% in the 4th 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 during the period. Congress Asset Management Co. boosted its holdings in Sterling Infrastructure by 6.5% in the 1st quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company's stock worth $60,250,000 after buying an additional 32,255 shares during the period. GW&K Investment Management LLC boosted its holdings in Sterling Infrastructure by 37.7% in the 1st quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock worth $56,608,000 after buying an additional 136,777 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Sterling Infrastructure by 74.1% during the 4th quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock valued at $60,025,000 after purchasing an additional 151,642 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STRL. Wall Street Zen raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. DA Davidson increased their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $355.00.

Sterling Infrastructure Trading Down 0.4%

Shares of Sterling Infrastructure stock traded down $1.13 on Wednesday, hitting $274.89. 452,410 shares of the company traded hands, compared to its average volume of 571,135. The stock's 50 day moving average price is $250.69 and its 200-day moving average price is $182.59. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $321.79. The company has a market cap of $8.36 billion, a PE ratio of 29.88, a PEG ratio of 2.10 and a beta of 1.46.

Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction that occurred on 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 sale, the director owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the sale, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Sterling Infrastructure Company 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.