WCM Investment Management LLC trimmed its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 55.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,160 shares of the construction company’s stock after selling 28,996 shares during the period. WCM Investment Management LLC’s holdings in Sterling Infrastructure were worth $8,860,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. World Investment Advisors increased its stake in Sterling Infrastructure by 2.4% in the 1st quarter. World Investment Advisors now owns 870 shares of the construction company’s stock valued at $354,000 after purchasing an additional 20 shares in the last quarter. Ritholtz Wealth Management boosted its position in Sterling Infrastructure by 3.6% during the first quarter. Ritholtz Wealth Management now owns 686 shares of the construction company’s stock worth $279,000 after purchasing an additional 24 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Sterling Infrastructure by 33.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 107 shares of the construction company’s stock worth $33,000 after purchasing an additional 27 shares in the last quarter. Root Financial Partners LLC grew its holdings in Sterling Infrastructure by 28.0% in the first quarter. Root Financial Partners LLC now owns 128 shares of the construction company’s stock valued at $52,000 after purchasing an additional 28 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in Sterling Infrastructure by 7.9% in the fourth quarter. CENTRAL TRUST Co now owns 397 shares of the construction company’s stock valued at $122,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.
Sterling Infrastructure Price Performance
Shares of NASDAQ:STRL opened at $650.22 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.10. The business’s fifty day moving average price is $795.92 and its two-hundred day moving average price is $558.30. The stock has a market cap of $19.96 billion, a PE ratio of 58.16, a price-to-earnings-growth ratio of 2.32 and a beta of 1.83. Sterling Infrastructure, Inc. has a one year low of $230.00 and a one year high of $1,005.68.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on STRL shares. Weiss Ratings raised Sterling Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Oppenheimer assumed coverage on shares of Sterling Infrastructure in a research note on Thursday, May 28th. They issued an “outperform” rating and a $950.00 price objective on the stock. Argus initiated coverage on shares of Sterling Infrastructure in a report on Thursday, April 16th. They set a “buy” rating and a $510.00 target price for the company. Zacks Research upgraded shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Sterling Infrastructure in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $720.67.
View Our Latest Analysis on Sterling Infrastructure
Insider Transactions at Sterling Infrastructure
In related news, General Counsel Mark D. Wolf sold 2,500 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $888.00, for a total value of $2,220,000.00. Following the completion of the transaction, the general counsel owned 28,137 shares of the company’s stock, valued at approximately $24,985,656. The trade was a 8.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph A. Cutillo sold 50,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $497.57, for a total transaction of $24,878,500.00. Following the completion of the transaction, the chief executive officer owned 290,593 shares in the company, valued at approximately $144,590,359.01. This trade represents a 14.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.60% of the company’s stock.
About Sterling Infrastructure
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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