Farther Finance Advisors LLC Trims Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Farther Finance Advisors LLC cut its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 26.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,041 shares of the construction company’s stock after selling 379 shares during the period. Farther Finance Advisors LLC’s holdings in Sterling Infrastructure were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in Sterling Infrastructure by 355.8% during the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company’s stock worth $27,000 after buying an additional 185 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Sterling Infrastructure during the 4th quarter valued at about $39,000. Huntington National Bank increased its holdings in Sterling Infrastructure by 34.6% in the 4th quarter. Huntington National Bank now owns 288 shares of the construction company’s stock worth $49,000 after buying an additional 74 shares during the period. National Bank of Canada FI purchased a new position in shares of Sterling Infrastructure during the fourth quarter worth $56,000. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of Sterling Infrastructure during the 4th quarter valued at about $71,000. 80.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STRL. Wall Street Zen raised shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. DA Davidson raised their target price on Sterling Infrastructure from $205.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday.

Insider Buying and Selling

In related news, Director Dana C. O’brien sold 10,154 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the transaction, the director now directly owns 16,498 shares in the company, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock opened at $217.97 on Friday. The business’s 50 day moving average price is $178.59 and its 200 day moving average price is $158.24. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.86 and a beta of 1.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 1.32. Sterling Infrastructure, Inc. has a one year low of $93.50 and a one year high of $233.57.

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.