Man Group plc Purchases 15,187 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Man Group plc increased its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 74.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,678 shares of the construction company's stock after purchasing an additional 15,187 shares during the quarter. Man Group plc owned about 0.12% of Sterling Infrastructure worth $6,010,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bay Rivers Group purchased a new stake in shares of Sterling Infrastructure during the 4th quarter valued at $341,000. Convergence Investment Partners LLC increased its stake in shares of Sterling Infrastructure by 47.7% in the fourth quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company's stock worth $1,566,000 after buying an additional 3,002 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Sterling Infrastructure by 7.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company's stock worth $111,873,000 after purchasing an additional 49,008 shares during the period. Park Avenue Securities LLC purchased a new stake in Sterling Infrastructure in the 4th quarter worth approximately $253,000. Finally, Spire Wealth Management boosted its holdings in Sterling Infrastructure by 265.1% in the fourth quarter. Spire Wealth Management now owns 8,792 shares of the construction company's stock valued at $1,481,000 after acquiring an additional 6,384 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. DA Davidson upgraded Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 target price on the stock in a report on Thursday, February 27th. Wall Street Zen upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday.

Sterling Infrastructure Stock Performance

STRL traded up $2.11 during mid-day trading on Monday, reaching $184.40. 330,518 shares of the company traded hands, compared to its average volume of 500,300. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. The stock has a market capitalization of $5.61 billion, a P/E ratio of 31.15, a P/E/G ratio of 1.28 and a beta of 1.27. The company's fifty day moving average price is $146.88 and its 200-day moving average price is $156.51.

About Sterling Infrastructure

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.