Janney Montgomery Scott LLC Trims Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Janney Montgomery Scott LLC reduced its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 66.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,460 shares of the construction company's stock after selling 6,720 shares during the quarter. Janney Montgomery Scott LLC's holdings in Sterling Infrastructure were worth $392,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Sterling Infrastructure by 355.8% during 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 last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure during the first quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Sterling Infrastructure during the fourth quarter worth approximately $39,000. Huntington National Bank raised its stake in shares of Sterling Infrastructure by 34.6% during the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock worth $49,000 after acquiring an additional 74 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Sterling Infrastructure during the fourth quarter worth approximately $56,000. 80.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of the business's 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 transaction, the general counsel directly 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 sale was disclosed in a document filed 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 business's stock in a transaction 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 transaction, the director directly owned 16,498 shares in the company, valued at approximately $3,408,156.84. The trade was 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 currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. DA Davidson lifted their price target on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday.

Sterling Infrastructure Stock Up 3.6%

Shares of Sterling Infrastructure stock opened at $236.98 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. The company's fifty day simple moving average is $196.43 and its two-hundred day simple moving average is $161.20. The company has a market cap of $7.21 billion, a P/E ratio of 27.68, a PEG ratio of 1.96 and a beta of 1.40. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month high of $237.70.

Sterling Infrastructure 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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