Calamos Advisors LLC Sells 36,419 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Calamos Advisors LLC lowered its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 83.5% in the first quarter, according to its most recent Form 13F filing with the Securities and 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 filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Sunbelt Securities Inc. grew its stake in 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 purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc grew its stake in Sterling Infrastructure by 355.8% in the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after purchasing an additional 185 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Sterling Infrastructure in the first quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new position in Sterling Infrastructure in the fourth quarter valued at approximately $39,000. Finally, Huntington National Bank boosted its stake in Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock valued at $49,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

Shares of STRL traded up $6.37 during mid-day trading on Wednesday, reaching $233.39. 258,842 shares of the company's stock traded hands, compared to its average volume of 525,475. The business's 50-day moving average price is $201.42 and its 200-day moving average price is $162.44. The stock has a market capitalization of $7.10 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 1.88 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 $240.49.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction 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 sale, the director directly owned 16,498 shares of the company's stock, valued at $3,408,156.84. The trade was a 38.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the business's stock in a transaction 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 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 disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented 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 note on Wednesday, June 18th. Wall Street Zen downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday.

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.