New York State Common Retirement Fund Sells 6,951 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

New York State Common Retirement Fund trimmed its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,696 shares of the construction company's stock after selling 6,951 shares during the quarter. New York State Common Retirement Fund owned about 0.26% of Sterling Infrastructure worth $9,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Sterling Infrastructure by 30.0% during the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock worth $425,135,000 after buying an additional 581,847 shares in the last quarter. Invesco Ltd. grew its position in 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 buying an additional 139,081 shares in the last quarter. Capital Research Global Investors grew its position in Sterling Infrastructure by 78.5% during the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock worth $96,855,000 after buying an additional 252,934 shares in the last quarter. Congress Asset Management Co. grew its position in Sterling Infrastructure by 6.5% during the first quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company's stock worth $60,250,000 after buying an additional 32,255 shares in the last quarter. Finally, First Trust Advisors LP grew its position in 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 buying an additional 151,642 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was 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 owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the sale, the director directly owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company's stock.

Sterling Infrastructure Price Performance

Shares of STRL traded down $3.30 during midday trading on Monday, reaching $247.65. The stock had a trading volume of 329,337 shares, compared to its average volume of 524,745. The company's 50-day moving average is $211.45 and its 200 day moving average is $165.78. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month high of $255.59. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.40.

Analysts Set New Price Targets

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

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.