Convergence Investment Partners LLC Lowers Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Convergence Investment Partners LLC lowered its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 38.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,714 shares of the construction company's stock after selling 3,583 shares during the period. Convergence Investment Partners LLC's holdings in Sterling Infrastructure were worth $647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its position in shares of Sterling Infrastructure by 689.7% during the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after buying an additional 200 shares during the period. Versant Capital Management Inc raised its position in Sterling Infrastructure by 355.8% in the first 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 during the period. Opal Wealth Advisors LLC purchased a new stake in Sterling Infrastructure in the first quarter valued at approximately $28,000. Huntington National Bank raised its position in Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock valued at $49,000 after purchasing an additional 74 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in shares of Sterling Infrastructure by 111.3% during the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock worth $55,000 after acquiring an additional 257 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

NASDAQ:STRL traded up $15.46 during mid-day trading on Friday, reaching $268.14. The stock had a trading volume of 559,222 shares, compared to its average volume of 672,064. Sterling Infrastructure, Inc. has a twelve month low of $93.50 and a twelve month high of $269.44. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 2.09 and a beta of 1.40. The business has a 50 day simple moving average of $216.50 and a 200 day simple moving average of $167.91.

Insider Transactions at Sterling Infrastructure

In other news, 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 transaction of $790,545.00. Following the completion of the transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This trade represents a 10.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $2,097,613.32. Following the transaction, the director directly owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

STRL has been the topic of a number of recent research reports. Wall Street Zen lowered Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. DA Davidson upped their price objective on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th.

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.