Cetera Investment Advisers Buys 12,395 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Cetera Investment Advisers grew its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 133.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,718 shares of the construction company’s stock after acquiring an additional 12,395 shares during the period. Cetera Investment Advisers owned 0.07% of Sterling Infrastructure worth $2,459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of Sterling Infrastructure by 22.5% in the fourth quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock worth $127,563,000 after acquiring an additional 139,081 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Sterling Infrastructure by 78.5% in the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company’s stock worth $96,855,000 after acquiring an additional 252,934 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of Sterling Infrastructure by 6.5% in the first quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company’s stock worth $60,250,000 after acquiring an additional 32,255 shares during the last quarter. GW&K Investment Management LLC raised its stake in shares of Sterling Infrastructure by 37.7% during the first quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company’s stock worth $56,608,000 after buying an additional 136,777 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Sterling Infrastructure by 74.1% during the fourth quarter. First Trust Advisors LP now owns 356,339 shares of the construction company’s stock worth $60,025,000 after buying an additional 151,642 shares during the last quarter. 80.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. DA Davidson boosted their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday.

Insider Buying and Selling

In related news, Director Dana C. O’brien sold 10,154 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the completion of the transaction, the director owned 16,498 shares in the company, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the transaction, the general counsel owned 29,315 shares of the company’s stock, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Sterling Infrastructure Price Performance

Shares of STRL opened at $299.42 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $321.79. The stock has a market cap of $9.11 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 2.45 and a beta of 1.46. The stock’s 50-day moving average price is $232.17 and its two-hundred day moving average price is $174.26.

Sterling Infrastructure 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.