Allspring Global Investments Holdings LLC Sells 18,376 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Allspring Global Investments Holdings LLC trimmed its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 19.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,995 shares of the construction company’s stock after selling 18,376 shares during the period. Allspring Global Investments Holdings LLC owned about 0.25% of Sterling Infrastructure worth $6,858,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Sterling Infrastructure by 53.5% in the 1st quarter. FMR LLC now owns 674 shares of the construction company’s stock worth $26,000 after purchasing an additional 235 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in Sterling Infrastructure in the fourth quarter valued at about $60,000. International Assets Investment Management LLC bought a new stake in Sterling Infrastructure during the third quarter worth about $73,000. Comerica Bank acquired a new stake in shares of Sterling Infrastructure during the third quarter worth approximately $79,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Sterling Infrastructure by 50.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,274 shares of the construction company’s stock worth $27,000 after buying an additional 427 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued a “neutral” rating and issued a $115.00 target price (up from $86.00) on shares of Sterling Infrastructure in a report on Wednesday, February 28th.

Insider Buying and Selling

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $108.16, for a total transaction of $432,640.00. Following the transaction, the general counsel now directly owns 31,048 shares in the company, valued at approximately $3,358,151.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $108.16, for a total transaction of $432,640.00. Following the completion of the sale, the general counsel now owns 31,048 shares in the company, valued at approximately $3,358,151.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph A. Cutillo sold 33,214 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $108.71, for a total value of $3,610,693.94. Following the completion of the transaction, the chief executive officer now directly owns 695,245 shares in the company, valued at approximately $75,580,083.95. The disclosure for this sale can be found here. Insiders sold 198,172 shares of company stock worth $22,019,320 in the last quarter. Insiders own 3.80% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of STRL stock opened at $100.11 on Thursday. The stock’s fifty day moving average is $101.71 and its 200-day moving average is $83.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.25 and a current ratio of 1.25. Sterling Infrastructure, Inc. has a 52 week low of $35.56 and a 52 week high of $116.36. The stock has a market capitalization of $3.10 billion, a PE ratio of 22.50, a PEG ratio of 1.01 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. The firm had revenue of $485.98 million during the quarter, compared to analysts’ expectations of $526.90 million. Equities research analysts expect that Sterling Infrastructure, Inc. will post 4.98 EPS for the current fiscal year.

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.