Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC trimmed its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 83.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,214 shares of the construction company's stock after selling 36,419 shares during the quarter. Calamos Advisors LLC's holdings in Sterling Infrastructure were worth $817,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 buying an additional 581,847 shares in the last quarter. Capital Research Global Investors boosted 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 acquiring an additional 252,934 shares in the last quarter. First Trust Advisors LP grew its holdings 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 worth $60,025,000 after purchasing an additional 151,642 shares during the last quarter. Invesco Ltd. increased its position 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 worth $127,563,000 after purchasing an additional 139,081 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new stake in shares of Sterling Infrastructure in the 4th quarter valued at about $20,373,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 16,498 shares of the company's stock, valued at $3,408,156.84. This trade represents a 38.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the business's stock in a transaction that occurred on 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 transaction, 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. Insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Price Performance

Shares of STRL traded up $0.33 during mid-day trading on Monday, reaching $237.00. 440,115 shares of the company's stock were exchanged, compared to its average volume of 523,090. 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 52-week low of $93.50 and a 52-week high of $240.31. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.96 and a beta of 1.40. The company has a 50-day simple moving average of $196.43 and a two-hundred day simple moving average of $161.06.

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.