LPL Financial LLC Sells 4,987 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

LPL Financial LLC decreased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 7.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,863 shares of the construction company’s stock after selling 4,987 shares during the quarter. LPL Financial LLC owned about 0.20% of Sterling Infrastructure worth $6,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. bought a new stake in Sterling Infrastructure during the first quarter worth $28,689,000. Capital Research Global Investors grew its holdings in Sterling Infrastructure by 78.5% during the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company’s stock worth $96,855,000 after buying an additional 252,934 shares in the last quarter. First Trust Advisors LP grew its holdings in 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 in the last quarter. GW&K Investment Management LLC grew its holdings in 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 in the last quarter. Finally, Tidal Investments LLC bought a new stake in Sterling Infrastructure during the fourth quarter worth $18,996,000. Institutional investors own 80.95% of the company’s stock.

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dana C. O’brien sold 10,154 shares of the company’s stock in a transaction 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 owned 16,498 shares in the company, valued at $3,408,156.84. This represents a 38.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark D. Wolf sold 3,500 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the transaction, the general counsel owned 29,315 shares of the company’s stock, valued at $6,621,379.05. This trade represents a 10.67% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Sterling Infrastructure Stock Down 4.2%

Shares of NASDAQ:STRL opened at $289.86 on Tuesday. The company has a market capitalization of $8.82 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 2.30 and a beta of 1.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The business has a fifty day moving average price of $238.74 and a two-hundred day moving average price of $176.20. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $321.79.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on STRL shares. DA Davidson upped their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday.

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.