Silvant Capital Management LLC boosted its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 31.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,383 shares of the construction company’s stock after acquiring an additional 2,993 shares during the quarter. Silvant Capital Management LLC’s holdings in Sterling Infrastructure were worth $3,792,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp grew its stake in Sterling Infrastructure by 76.1% in the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock valued at $28,000 after buying an additional 35 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Sterling Infrastructure by 33.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 107 shares of the construction company’s stock valued at $33,000 after buying an additional 27 shares in the last quarter. Rakuten Securities Inc. grew its stake in Sterling Infrastructure by 6,950.0% in the 2nd quarter. Rakuten Securities Inc. now owns 141 shares of the construction company’s stock valued at $33,000 after buying an additional 139 shares in the last quarter. Optiver Holding B.V. grew its stake in Sterling Infrastructure by 108.2% in the 3rd quarter. Optiver Holding B.V. now owns 102 shares of the construction company’s stock valued at $35,000 after buying an additional 53 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Sterling Infrastructure by 316.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 104 shares of the construction company’s stock valued at $35,000 after buying an additional 79 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.
Sterling Infrastructure Stock Up 0.9%
Shares of NASDAQ:STRL opened at $866.67 on Tuesday. Sterling Infrastructure, Inc. has a 52-week low of $205.83 and a 52-week high of $1,005.68. The firm has a fifty day moving average of $683.48 and a 200 day moving average of $480.86. The firm has a market capitalization of $26.60 billion, a PE ratio of 77.52, a price-to-earnings-growth ratio of 3.14 and a beta of 1.81. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.10.
Analyst Ratings Changes
STRL has been the subject of a number of recent analyst reports. KeyCorp boosted their price target on shares of Sterling Infrastructure from $889.00 to $922.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Zacks Research upgraded shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 1st. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 31st. Argus initiated coverage on shares of Sterling Infrastructure in a research report on Thursday, April 16th. They set a “buy” rating and a $510.00 price target for the company. Finally, DA Davidson boosted their price target on shares of Sterling Infrastructure from $460.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat.com, Sterling Infrastructure presently has an average rating of “Buy” and an average target price of $720.67.
Get Our Latest Research Report on Sterling Infrastructure
Insiders Place Their Bets
In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 50,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $497.57, for a total value of $24,878,500.00. Following the completion of the sale, the chief executive officer directly owned 290,593 shares of the company’s stock, valued at $144,590,359.01. The trade was a 14.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.60% of the stock is owned by corporate insiders.
Sterling Infrastructure Company Profile
Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.
The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.
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