Sterling Infrastructure, Inc. $STRL Stake Cut by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Sterling Infrastructure, Inc. by 33.9%, selling 113,647 shares during the first quarter.
• Institutional investors currently own 80.95% of Sterling Infrastructure's stock, indicating strong institutional support.
• Sterling Infrastructure's shares have experienced notable volatility, with a 12-month low of $96.34 and a high of $321.79.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 33.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 221,539 shares of the construction company's stock after selling 113,647 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.73% of Sterling Infrastructure worth $25,081,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. lifted its position in shares of Sterling Infrastructure by 5.4% in the first quarter. Assetmark Inc. now owns 1,372 shares of the construction company's stock worth $155,000 after purchasing an additional 70 shares in the last quarter. Peterson Wealth Services increased its stake in Sterling Infrastructure by 2.1% in the 1st quarter. Peterson Wealth Services now owns 5,054 shares of the construction company's stock valued at $572,000 after buying an additional 103 shares during the period. D.A. Davidson & CO. lifted its position in Sterling Infrastructure by 5.0% in the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after buying an additional 116 shares in the last quarter. JT Stratford LLC boosted its stake in shares of Sterling Infrastructure by 1.0% during the 4th quarter. JT Stratford LLC now owns 12,465 shares of the construction company's stock valued at $2,100,000 after buying an additional 121 shares during the period. Finally, Xponance Inc. boosted its stake in shares of Sterling Infrastructure by 6.0% during the 1st quarter. Xponance Inc. now owns 2,272 shares of the construction company's stock valued at $257,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $285.98 on Monday. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The company's fifty day moving average is $265.87 and its 200-day moving average is $195.43. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $321.79.

Insiders Place Their Bets

In other news, Director Dana C. O'brien sold 10,154 shares of the company's stock in a transaction dated 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 sale, the director owned 16,498 shares in the company, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $790,545.00. Following the transaction, the general counsel directly owned 29,315 shares in the company, 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. Corporate insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on STRL shares. Wall Street Zen downgraded shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. DA Davidson boosted their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $355.00.

Sterling Infrastructure 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.