Kornitzer Capital Management Inc. KS Increases Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Kornitzer Capital Management Inc. KS boosted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,730 shares of the construction company's stock after acquiring an additional 10,970 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.25% of Sterling Infrastructure worth $8,687,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Sterling Infrastructure by 30.0% in the 4th 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% in the fourth 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 lifted its holdings in Sterling Infrastructure by 74.1% during the 4th quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock worth $60,025,000 after buying an additional 151,642 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Sterling Infrastructure by 22.5% in the 4th 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 acquired a new stake in shares of Sterling Infrastructure during the 4th quarter worth about $20,373,000. Institutional investors and hedge funds own 80.95% of the company's stock.

Insiders Place Their Bets

In related news, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction on 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 transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction 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. 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 3.70% of the company's stock.

Sterling Infrastructure Price Performance

STRL stock traded up $8.50 on Thursday, reaching $251.73. 290,873 shares of the company's stock were exchanged, compared to its average volume of 526,090. The stock has a fifty day moving average of $208.56 and a 200-day moving average of $164.69. The firm has a market cap of $7.66 billion, a PE ratio of 29.41, a P/E/G ratio of 1.97 and a beta of 1.40. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.34. Sterling Infrastructure, Inc. has a twelve month low of $93.50 and a twelve month high of $253.81.

Wall Street Analysts Forecast Growth

STRL has been the topic of a number of research analyst reports. DA Davidson raised their price objective on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen cut shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

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.