Bank of America Corp DE Reduces Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Bank of America Corp DE reduced its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 22.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 107,569 shares of the construction company’s stock after selling 31,599 shares during the quarter. Bank of America Corp DE owned about 0.35% of Sterling Infrastructure worth $18,120,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Sterling Infrastructure by 30.0% in the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock valued at $425,135,000 after acquiring an additional 581,847 shares in the last quarter. Invesco Ltd. lifted its position in shares of Sterling Infrastructure by 22.5% in the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock worth $127,563,000 after purchasing an additional 139,081 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 purchasing an additional 49,008 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Sterling Infrastructure by 78.5% during the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company’s stock valued at $96,855,000 after purchasing an additional 252,934 shares in the last quarter. Finally, GW&K Investment Management LLC increased its position in shares of Sterling Infrastructure by 3.4% during the fourth quarter. GW&K Investment Management LLC now owns 363,251 shares of the construction company’s stock valued at $61,190,000 after buying an additional 12,064 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on STRL. DA Davidson upgraded shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Thursday, February 27th. StockNews.com lowered Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th.

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock opened at $187.19 on Wednesday. Sterling Infrastructure, Inc. has a 12 month low of $93.50 and a 12 month high of $206.07. The firm has a market capitalization of $5.69 billion, a P/E ratio of 31.62, a P/E/G ratio of 1.28 and a beta of 1.27. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $143.10 and a two-hundred day simple moving average of $156.18.

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.