Principal Financial Group Inc. Sells 20,598 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Principal Financial Group Inc. trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 6.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 317,334 shares of the construction company's stock after selling 20,598 shares during the quarter. Principal Financial Group Inc. owned about 1.04% of Sterling Infrastructure worth $35,925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hudson Edge Investment Partners Inc. purchased a new position in Sterling Infrastructure during the first quarter worth $823,000. CMG Global Holdings LLC acquired a new stake in Sterling Infrastructure during the first quarter valued at $651,000. CWC Advisors LLC. lifted its holdings in Sterling Infrastructure by 32.0% during the first quarter. CWC Advisors LLC. now owns 1,815 shares of the construction company's stock valued at $205,000 after purchasing an additional 440 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after buying an additional 200 shares in the last quarter. Finally, Diversified Trust Co raised its stake in Sterling Infrastructure by 13.3% during the first quarter. Diversified Trust Co now owns 5,785 shares of the construction company's stock worth $655,000 after purchasing an additional 677 shares during the period. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

STRL traded up $2.75 during trading hours on Wednesday, hitting $229.77. 33,616 shares of the stock were exchanged, compared to its average volume of 523,273. 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 market cap of $6.99 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth 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 $240.49. The stock has a 50-day simple moving average of $199.74 and a 200-day simple moving average of $161.95.

Insider Transactions at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the sale, the general counsel directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the sale, the director owned 16,498 shares of the company's stock, 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. 2.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday. DA Davidson upped 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.

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.