Sterling Infrastructure, Inc. $STRL Stake Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 13.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,461 shares of the construction company’s stock after selling 861 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sterling Infrastructure were worth $1,215,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in STRL. CWC Advisors LLC. increased its holdings in shares of Sterling Infrastructure by 2.4% during the second quarter. CWC Advisors LLC. now owns 1,858 shares of the construction company’s stock valued at $429,000 after purchasing an additional 43 shares during the period. Richardson Financial Services Inc. boosted its holdings in shares of Sterling Infrastructure by 32.9% in the second quarter. Richardson Financial Services Inc. now owns 190 shares of the construction company’s stock valued at $42,000 after acquiring an additional 47 shares in the last quarter. Assetmark Inc. increased its stake in shares of Sterling Infrastructure by 5.4% during the first quarter. Assetmark Inc. now owns 1,372 shares of the construction company’s stock valued at $155,000 after acquiring an additional 70 shares during the period. Signaturefd LLC raised its holdings in Sterling Infrastructure by 21.7% during the second quarter. Signaturefd LLC now owns 392 shares of the construction company’s stock worth $90,000 after purchasing an additional 70 shares in the last quarter. Finally, Armstrong Advisory Group Inc. lifted its position in Sterling Infrastructure by 93.2% in the second quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company’s stock worth $39,000 after purchasing an additional 82 shares during the period. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Down 8.7%

Shares of Sterling Infrastructure stock opened at $332.75 on Thursday. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 36.17, a P/E/G ratio of 2.70 and a beta of 1.38. The stock has a 50-day simple moving average of $321.53 and a 200-day simple moving average of $244.97. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $376.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. The company had revenue of $403.58 million during the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%. On average, equities research analysts expect that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STRL. DA Davidson raised their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, Sterling Infrastructure presently has an average rating of “Buy” and an average target price of $355.00.

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.