Sterling Infrastructure, Inc. (NASDAQ:STRL) Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,932 shares of the construction company’s stock after selling 17,614 shares during the period. Principal Financial Group Inc. owned 1.10% of Sterling Infrastructure worth $56,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Sterling Infrastructure by 0.5% in the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after buying an additional 3,918 shares in the last quarter. State Street Corp grew its position in Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after purchasing an additional 5,106 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Sterling Infrastructure by 7.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock worth $111,873,000 after purchasing an additional 49,008 shares in the last quarter. Congress Asset Management Co. grew its position in Sterling Infrastructure by 19.1% during the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after purchasing an additional 104,096 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Sterling Infrastructure by 4.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company’s stock worth $55,248,000 after purchasing an additional 17,863 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. William Blair assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They set an “outperform” rating on the stock. StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Thursday.

Sterling Infrastructure Trading Down 1.9 %

Shares of NASDAQ:STRL opened at $124.27 on Friday. The stock has a market capitalization of $3.82 billion, a PE ratio of 20.99, a P/E/G ratio of 1.35 and a beta of 1.24. Sterling Infrastructure, Inc. has a 1 year low of $81.25 and a 1 year high of $206.07. The firm has a fifty day moving average price of $162.04 and a 200 day moving average price of $154.21. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the transaction, the director now owns 25,901 shares of the company’s stock, valued at $4,555,726.89. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

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.