Sterling Infrastructure, Inc. $STRL Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 10.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,634 shares of the construction company's stock after selling 27,910 shares during the quarter. Royal Bank of Canada owned approximately 0.79% of Sterling Infrastructure worth $27,243,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of STRL. Pacer Advisors Inc. purchased a new stake in shares of Sterling Infrastructure in the first quarter worth about $28,689,000. Nuveen LLC purchased a new stake in shares of Sterling Infrastructure in the first quarter worth about $19,741,000. Vanguard Group Inc. boosted its stake in shares of Sterling Infrastructure by 6.3% in the first quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock worth $303,742,000 after buying an additional 159,191 shares during the last quarter. GW&K Investment Management LLC boosted its position in Sterling Infrastructure by 37.7% during the first quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock worth $56,608,000 after purchasing an additional 136,777 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Sterling Infrastructure during the fourth quarter worth approximately $18,996,000. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction that occurred on 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 transaction, the director owned 16,498 shares in the company, valued at $3,408,156.84. This trade 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 through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were 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 of the company's stock, valued at approximately $6,621,379.05. This represents 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.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL traded up $14.44 during midday trading on Wednesday, hitting $301.13. The stock had a trading volume of 529,334 shares, compared to its average volume of 640,528. The company has a market capitalization of $9.16 billion, a PE ratio of 32.73, a P/E/G ratio of 2.12 and a beta of 1.35. The stock has a 50 day simple moving average of $268.27 and a 200-day simple moving average of $197.24. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $321.79. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STRL. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. DA Davidson increased their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $355.00.

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.