Great Lakes Advisors LLC Sells 6,433 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Great Lakes Advisors LLC has reduced its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 19.7%, selling 6,433 shares to hold a total of 26,282 shares valued at approximately $2,975,000.
• Several institutional investors have significantly increased their holdings in Sterling Infrastructure, with Sunbelt Securities Inc. raising its position by 689.7%.
• Analysts have differing views on Sterling Infrastructure, with Wall Street Zen downgrading its rating from "strong-buy" to "buy", while Zacks Research upgraded it to "strong-buy".

Great Lakes Advisors LLC cut its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,282 shares of the construction company's stock after selling 6,433 shares during the period. Great Lakes Advisors LLC owned 0.09% of Sterling Infrastructure worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Comerica Bank lifted its holdings in Sterling Infrastructure by 10.4% in the fourth quarter. Comerica Bank now owns 1,832 shares of the construction company's stock valued at $309,000 after buying an additional 172 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Sterling Infrastructure during the 4th quarter valued at $237,000. Deutsche Bank AG lifted its stake in shares of Sterling Infrastructure by 43.8% in the 4th quarter. Deutsche Bank AG now owns 31,531 shares of the construction company's stock valued at $5,311,000 after purchasing an additional 9,610 shares during the period. Ensign Peak Advisors Inc bought a new position in shares of Sterling Infrastructure in the 4th quarter worth $107,000. Finally, Focus Partners Wealth acquired a new stake in shares of Sterling Infrastructure during the fourth quarter worth $343,000. Institutional investors own 80.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. DA Davidson increased their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $355.00.

Insider Activity

In related news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were 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 of the company's stock, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Sterling Infrastructure Stock Down 0.8%

Shares of STRL traded down $2.61 during mid-day trading on Friday, hitting $313.55. 388,963 shares of the company's stock were exchanged, compared to its average volume of 391,730. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. 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 $9.54 billion, a PE ratio of 34.08, a P/E/G ratio of 2.34 and a beta of 1.35. The company has a 50-day simple moving average of $272.84 and a 200 day simple moving average of $201.30.

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.