Charles Schwab Investment Management Inc. Sells 8,441 Shares of Sterling Infrastructure, Inc. $STRL

Charles Schwab Investment Management Inc. reduced its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 322,133 shares of the construction company’s stock after selling 8,441 shares during the period. Charles Schwab Investment Management Inc. owned about 1.06% of Sterling Infrastructure worth $36,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. grew its holdings in shares of Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Sterling Infrastructure by 355.8% in the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company’s stock worth $27,000 after purchasing an additional 185 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Sterling Infrastructure in the first quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its holdings in shares of Sterling Infrastructure by 111.3% in the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company’s stock worth $55,000 after purchasing an additional 257 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Sterling Infrastructure by 40.5% in the first quarter. IFP Advisors Inc now owns 923 shares of the construction company’s stock worth $104,000 after purchasing an additional 266 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Stock Performance

NASDAQ:STRL opened at $283.20 on Tuesday. The stock has a market cap of $8.61 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 2.09 and a beta of 1.46. The firm’s fifty day simple moving average is $247.73 and its 200 day simple moving average is $181.29. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $321.79. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. DA Davidson raised their target price on shares of 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 shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 10,154 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was 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 of the company’s stock, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm’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 transaction, the general counsel directly owned 29,315 shares of the company’s stock, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

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.