Horizon Investment Services LLC Decreases Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Horizon Investment Services LLC cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 13.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,064 shares of the construction company's stock after selling 2,266 shares during the period. Horizon Investment Services LLC's holdings in Sterling Infrastructure were worth $1,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Peterson Wealth Services increased its position in shares of Sterling Infrastructure by 2.1% during the first quarter. Peterson Wealth Services now owns 5,054 shares of the construction company's stock worth $572,000 after purchasing an additional 103 shares in the last quarter. WNY Asset Management LLC acquired a new stake in Sterling Infrastructure during the 1st quarter valued at $232,000. IFP Advisors Inc grew its holdings in Sterling Infrastructure by 40.5% during the 1st quarter. IFP Advisors Inc now owns 923 shares of the construction company's stock valued at $104,000 after buying an additional 266 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in Sterling Infrastructure by 52.7% during the 1st quarter. Diversify Advisory Services LLC now owns 2,619 shares of the construction company's stock valued at $296,000 after buying an additional 904 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Sterling Infrastructure by 7.1% during the 1st quarter. Jennison Associates LLC now owns 5,803 shares of the construction company's stock worth $657,000 after purchasing an additional 386 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction 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 sale, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction dated 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 transaction, the director owned 16,498 shares of the company's stock, valued at $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. 2.70% of the stock is currently owned by insiders.

Sterling Infrastructure Stock Up 0.1%

Shares of STRL opened at $250.95 on Monday. The firm has a market capitalization of $7.63 billion, a P/E ratio of 29.32, a P/E/G ratio of 2.08 and a beta of 1.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 1.32. Sterling Infrastructure, Inc. has a 52 week low of $93.50 and a 52 week high of $255.59. The company has a 50-day simple moving average of $211.45 and a 200-day simple moving average of $165.78.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen lowered Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. DA Davidson lifted their price target on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research note 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.

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