Fmr LLC Reduces Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

FMR LLC trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,451,063 shares of the construction company's stock after selling 305,024 shares during the period. FMR LLC owned approximately 4.73% of Sterling Infrastructure worth $244,432,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP increased its stake in Sterling Infrastructure by 510.7% during the third quarter. Quarry LP now owns 171 shares of the construction company's stock worth $25,000 after purchasing an additional 143 shares during the period. Stifel Financial Corp lifted its holdings in Sterling Infrastructure by 22.9% during the 3rd quarter. Stifel Financial Corp now owns 23,418 shares of the construction company's stock worth $3,396,000 after buying an additional 4,359 shares in the last quarter. State Street Corp boosted its position in Sterling Infrastructure by 0.7% in the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company's stock valued at $103,433,000 after buying an additional 5,106 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of Sterling Infrastructure in the third quarter worth $207,000. Finally, MML Investors Services LLC increased its position in shares of Sterling Infrastructure by 28.3% during the third quarter. MML Investors Services LLC now owns 9,593 shares of the construction company's stock worth $1,391,000 after acquiring an additional 2,118 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Sterling Infrastructure Stock Down 0.6 %

Shares of NASDAQ STRL traded down $0.89 during midday trading on Thursday, hitting $139.55. 228,475 shares of the company's stock were exchanged, compared to its average volume of 784,562. The firm's fifty day simple moving average is $124.31 and its 200-day simple moving average is $154.54. The company has a market cap of $4.24 billion, a PE ratio of 23.57, a P/E/G ratio of 1.28 and a beta of 1.19. Sterling Infrastructure, Inc. has a twelve month low of $93.50 and a twelve month 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.

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.