Charles Schwab Investment Management Inc. Lowers 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 stake 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 Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position 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 worth $303,742,000 after acquiring an additional 159,191 shares during the last quarter. Capital Research Global Investors grew its position in shares of 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 last quarter. Congress Asset Management Co. grew its position in shares of 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 last quarter. GW&K Investment Management LLC grew its position in shares of 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 last quarter. Finally, First Trust Advisors LP grew its position in shares of Sterling Infrastructure by 74.1% in the 4th 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 during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on STRL shares. DA Davidson lifted their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Friday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Sterling Infrastructure presently has a consensus rating of "Buy" and a consensus price target of $355.00.

Sterling Infrastructure Stock Up 0.6%

Shares of STRL traded up $1.55 on Friday, reaching $279.58. The stock had a trading volume of 493,572 shares, compared to its average volume of 576,158. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The company has a 50-day simple moving average of $253.70 and a 200-day simple moving average of $184.82. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $321.79.

Insider Buying and Selling

In other news, Director Dana C. O'brien sold 10,154 shares of the firm'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 completion of the transaction, the director owned 16,498 shares in the company, valued at $3,408,156.84. This trade represents a 38.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. Company 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.