Point72 Asset Management L.P. Sells 94,834 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Point72 Asset Management L.P. reduced its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 76.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,695 shares of the construction company's stock after selling 94,834 shares during the quarter. Point72 Asset Management L.P. owned 0.10% of Sterling Infrastructure worth $5,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of STRL. ProShare Advisors LLC grew its stake in shares of Sterling Infrastructure by 47.0% in the fourth quarter. ProShare Advisors LLC now owns 8,402 shares of the construction company's stock worth $1,415,000 after acquiring an additional 2,687 shares during the period. Man Group plc lifted its position in Sterling Infrastructure by 74.1% during the fourth quarter. Man Group plc now owns 35,678 shares of the construction company's stock valued at $6,010,000 after purchasing an additional 15,187 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Sterling Infrastructure by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 335,186 shares of the construction company's stock valued at $56,462,000 after purchasing an additional 17,768 shares during the period. Gotham Asset Management LLC lifted its position in Sterling Infrastructure by 28.0% during the fourth quarter. Gotham Asset Management LLC now owns 7,398 shares of the construction company's stock valued at $1,246,000 after purchasing an additional 1,618 shares during the period. Finally, Focus Partners Wealth bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $343,000. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Stock Performance

STRL opened at $185.98 on Tuesday. The company's 50 day moving average is $141.71 and its 200 day moving average is $155.96. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.28 and a beta of 1.27. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month high of $206.07.

Wall Street Analysts Forecast Growth

STRL has been the topic of a number of research reports. DA Davidson upgraded Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price target on the stock in a research note on Thursday, February 27th. StockNews.com downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

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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