Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 304,600 shares of the construction company's stock after selling 58,022 shares during the quarter. Lord Abbett & CO. LLC owned about 0.99% of Sterling Infrastructure worth $51,310,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new position in Sterling Infrastructure in the 4th quarter valued at about $39,000. Huntington National Bank raised its stake in shares of Sterling Infrastructure by 34.6% during the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock worth $49,000 after purchasing an additional 74 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Sterling Infrastructure during the fourth quarter worth $56,000. Arcadia Investment Management Corp MI purchased a new position in Sterling Infrastructure in the 4th quarter valued at $71,000. Finally, Venturi Wealth Management LLC increased its stake in Sterling Infrastructure by 1,369.0% in the 4th quarter. Venturi Wealth Management LLC now owns 617 shares of the construction company's stock valued at $104,000 after buying an additional 575 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Price Performance

NASDAQ:STRL traded up $10.70 during trading hours on Thursday, hitting $160.13. The company's stock had a trading volume of 348,199 shares, compared to its average volume of 490,988. The company has a market capitalization of $4.87 billion, a PE ratio of 26.97, a PEG ratio of 1.28 and a beta of 1.19. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $206.07. The business's 50-day moving average is $126.38 and its two-hundred day moving average is $154.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29.

Wall Street Analyst Weigh In

Several analysts have recently commented on STRL shares. StockNews.com cut shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. William Blair started coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They issued an "outperform" rating for the company. Finally, DA Davidson upgraded Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 target price on the stock in a research report on Thursday, February 27th.

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.