NewEdge Advisors LLC Has $604,000 Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

NewEdge Advisors LLC boosted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 893.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,585 shares of the construction company's stock after buying an additional 3,224 shares during the quarter. NewEdge Advisors LLC's holdings in Sterling Infrastructure were worth $604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bay Rivers Group acquired a new position in Sterling Infrastructure in the fourth quarter worth about $341,000. Convergence Investment Partners LLC increased its holdings in shares of Sterling Infrastructure by 47.7% in the 4th quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company's stock valued at $1,566,000 after acquiring an additional 3,002 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Sterling Infrastructure by 7.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company's stock valued at $111,873,000 after acquiring an additional 49,008 shares in the last quarter. Park Avenue Securities LLC bought a new position in Sterling Infrastructure during the fourth quarter worth $253,000. Finally, Spire Wealth Management boosted its holdings in Sterling Infrastructure by 265.1% in the fourth quarter. Spire Wealth Management now owns 8,792 shares of the construction company's stock worth $1,481,000 after purchasing an additional 6,384 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL traded up $10.27 during midday trading on Thursday, reaching $159.70. 506,043 shares of the company traded hands, compared to its average volume of 491,655. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.28 and a beta of 1.19. The stock has a 50-day moving average price of $126.38 and a 200 day moving average price of $154.12. Sterling Infrastructure, Inc. has a 52 week low of $93.50 and a 52 week high of $206.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

Analysts Set New Price Targets

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

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.