Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. cut its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 49.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,483 shares of the construction company's stock after selling 24,960 shares during the quarter. Riggs Asset Managment Co. Inc. owned 0.08% of Sterling Infrastructure worth $2,885,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Sterling Infrastructure by 30.0% during the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock valued at $425,135,000 after buying an additional 581,847 shares in the last quarter. Capital Research Global Investors lifted its holdings in Sterling Infrastructure by 78.5% during the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock valued at $96,855,000 after buying an additional 252,934 shares in the last quarter. First Trust Advisors LP raised its stake in shares of 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 in the last quarter. Invesco Ltd. raised its stake in shares of 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 in the last quarter. Finally, Axiom Investors LLC DE bought a new stake in shares of Sterling Infrastructure during the fourth quarter valued at approximately $20,373,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. DA Davidson lifted their target price on Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday.

Sterling Infrastructure Stock Up 0.1%

NASDAQ:STRL traded up $0.33 during trading hours on Monday, reaching $237.00. The company's stock had a trading volume of 440,115 shares, compared to its average volume of 523,090. The company has a market capitalization of $7.21 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 1.96 and a beta of 1.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 1.32. Sterling Infrastructure, Inc. has a 12 month low of $93.50 and a 12 month high of $240.31. The stock has a 50 day moving average price of $198.18 and a two-hundred day moving average price of $161.49.

Insider Activity

In related news, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 16,498 shares of the company's stock, valued at $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the company'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 transaction, the general counsel directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

Sterling Infrastructure Company 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.