Essex Investment Management Co. LLC Has $6.35 Million Stock Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Essex Investment Management Co. LLC lowered its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 16.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 37,683 shares of the construction company’s stock after selling 7,292 shares during the period. Sterling Infrastructure makes up 1.1% of Essex Investment Management Co. LLC’s portfolio, making the stock its 16th largest holding. Essex Investment Management Co. LLC owned 0.12% of Sterling Infrastructure worth $6,348,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its stake 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 last quarter. Bay Rivers Group acquired a new position in Sterling Infrastructure in the 4th quarter valued at about $341,000. Allspring Global Investments Holdings LLC grew its stake in Sterling Infrastructure by 7.9% in 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 buying an additional 49,008 shares during the last quarter. Convergence Investment Partners LLC grew its position in shares of Sterling Infrastructure by 47.7% during the 4th quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company’s stock worth $1,566,000 after purchasing an additional 3,002 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Sterling Infrastructure during the fourth quarter worth approximately $253,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the transaction, the director now owns 25,901 shares of the company’s stock, valued at $4,555,726.89. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by corporate insiders.

Sterling Infrastructure Price Performance

Shares of STRL stock opened at $118.00 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a twelve month low of $93.50 and a twelve month high of $206.07. The company has a market cap of $3.61 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.28 and a beta of 1.32. The business has a fifty day simple moving average of $149.96 and a 200 day simple moving average of $155.45.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday. DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Thursday, February 27th. Finally, William Blair assumed coverage on Sterling Infrastructure in a research report on Friday, January 17th. They set an “outperform” rating for the company.

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.