Massachusetts Financial Services Co. MA Acquires Shares of 20,803 Sterling Infrastructure, Inc. (NASDAQ:STRL)

Massachusetts Financial Services Co. MA purchased a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,803 shares of the construction company's stock, valued at approximately $2,355,000. Massachusetts Financial Services Co. MA owned 0.07% of Sterling Infrastructure as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Sterling Infrastructure by 30.0% during the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock valued at $425,135,000 after purchasing an additional 581,847 shares in the last quarter. Capital Research Global Investors raised its stake in Sterling Infrastructure by 78.5% during the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock valued at $96,855,000 after purchasing an additional 252,934 shares in the last quarter. First Trust Advisors LP increased its position in Sterling Infrastructure by 74.1% during the fourth quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock valued at $60,025,000 after acquiring an additional 151,642 shares during the last quarter. Invesco Ltd. increased its position in Sterling Infrastructure by 22.5% during the fourth quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock valued at $127,563,000 after acquiring an additional 139,081 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new position in shares of Sterling Infrastructure in the fourth quarter worth about $20,373,000. Hedge funds and other institutional investors own 80.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. DA Davidson lifted their target price 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 cut shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $250.95 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a fifty day moving average price of $211.45 and a 200 day moving average price of $165.78. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $255.59. The company has a market cap of $7.63 billion, a PE ratio of 29.32, a P/E/G ratio of 2.08 and a beta of 1.40.

Insider Transactions at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction dated 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 completion of the sale, the director owned 16,498 shares in the company, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the business's 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 $6,621,379.05. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

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.

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